US Stock Movement | Blackstone rises 3%, addresses fund redemption pressure through internal fundraising

Golden Ten Data March 4｜Blackstone (BX.US) rose 3%, closing at $114.25. According to sources, more than 25 Blackstone executives (many from the credit business department) jointly invested about $150 millions to subscribe to Blackstone's private credit fund. The company also used $250 millions of its own capital, helping to address a record redemption request of about $3.8 billions (approximately 7.9% of net assets). It proved to be a crucial timely intervention, allowing the $82 billions flagship fund BCRED to pay investors without adjusting the redemption offer terms, and avoiding the release of signals that could trigger negative interpretations during sensitive market sentiment. (Golden Ten Data)