Blackstone fund hit by redemptions as investors get jittery around private credit

Blackstone's headquarters

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• Blackstone's retail credit fund saw $1.7 billion in investor withdrawals.
• The news comes amid growing jitters over private credit, which has hurt competitors like Blue Owl.
• Blackstone fulfilled redemption requests for 7.9% of BCRED shares in the first quarter.

Blackstone's retail-oriented private credit fund saw $1.7 billion in investors' cash leave in the first quarter amid growing anxieties over non-bank lending.