Blackstone’s $400 Million BCRED Booster Shot
Employees step up in support of flagship private credit fund
Welcome to Going Private, I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we look at the latest casualties in the collapse of a UK mortgage finance firm, correction warnings from within the industry and how war might bring a breather for under-fire direct lenders. But first, we explore the tough choices facing BDC managers during a crisis of confidence in private credit. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net
Gate or not to gate? That’s the dilemma facing managers of the biggest retail-focused business development companies as the clock ticks down on redemption filings that will reveal their scale of contagion to Blue Owl’s woes.