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Bond Market News
BlackStone’s $82bn Private Credit Fund Hit with Redemptions
March 3, 2026
Blackstone’s $82bn flagship private credit fund, Bcred, faced $1.7bn in net outflows in 1Q2026. The redemption requests surged to 7.9% of assets, exceeding the 5% threshold that allows payout limits. Although the fund received nearly $2bn in new commitments, it faced about $3.7bn in redemption requests amid growing retail investor unease over private credit. This comes after certain industry writedowns and Blue Owl’s decision to halt redemptions at one fund last month. Blackstone covered the redemptions in full, supported by a $400mn investment from the firm and its employees. The firm stated that the investment in Bcred was driven by the fund’s tender offer structure rather than liquidity constraints. Bcred is said to remain a key earnings driver for Blackstone, generating $1.2bn in fees last year (13% of total fee income), making its flow trends closely watched by analysts.
Blackstone’s bonds traded marginally weaker. Its 6% 2032s were down 1.3 points to 98.2, yielding 6.36%
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