Blackstone nears $400m target for Blackstone Private Credit Fund

New York-based investment manager Blackstone is nearing the completion of a $400 million capital raise for its Blackstone Private Credit Fund (BCRED), as reported by the Financial Times. The funds are intended to bolster investment opportunities for BCRED. Blackstone's strategy involves utilizing collateralized loan obligations (CLOs) backed by loans from its $52 billion flagship private credit fund. This move, as revealed in documents viewed by the Financial Times, aims to enhance competitiveness by selling BCRED-owned loans to the CLO.