Jon Gray Cites Credit ‘Noise’ as BCRED Redemptions Rise (1)

Blackstone Inc. estimates that redemptions for its private credit fund rose for the final quarter of this year from 2024 even as more money flowed into the vehicle, as concerns swirled over the asset class following several high-profile failures.

The firm estimated capital inflows for the Blackstone Private Credit Fund, known as BCRED, for the fourth quarter to be about $3.3 billion to date, the alternative asset manager said in a filing Wednesday. That’s up from $3.1 billion for the same period last year.

Still, investors redeemed an estimated 4.5% of shares for the fourth quarter, up from 1.5% ...