Blackstone’s Gray Defends Credit Portfolio Marks as Shares Slump

Blackstone Inc.President Jon Gray— whose company’s flagship private credit fund was hit by record redemptions — called the concerns in the market a “ton of noise” as Blackstone shares fell to the lowest level since November 2023.

“This has become a story,” Gray said in an interview with CNBC Tuesday. “When that’s happening, it’s not a surprise that investors can get nervous.”

Blackstone President Jon Gray

Photographer: Carla Gottgens/Bloomberg

The Blackstone Private Credit Fund, among the largest evergreen funds for the private debt space globally, on Monday disclosed it would allow investors to redeem a record 7.9% of shares, fulfilling that by boosting a ...