Blackstone Seeks Over $10 Billion in Two Direct Lending Funds

Blackstone Inc. is looking to raise over $10 billion across two private loan funds in Europe and the US, according to people with knowledge of the matter, as the firm seeks to further capitalize on the growth of private credit.

The direct-lending funds, one in euros and the other in dollars, are targeting capital from institutional investors for a fixed term, said the people, who aren’t authorized to speak publicly on private matters. A spokesperson for Blackstone declined to comment.

Blackstone Credit and other major private debt managers such as Ares Management Corp. and HPS Investment Partners are increasingly able ...