Blackstone says era of bumper private-credit returns has ended
Comments by president Jonathan Gray come as private capital group reports better than expected results
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Bubble-talk is breaking out everywhere
But more optimistic investors continue to bank on the cavalry arriving if things get really dicey
Blackstone pulls in $69bn despite slump in private capital returns
Asset manager drew investors even as performance in private credit and buyout units suffered
The strains on the private equity model are showing
Firms are still struggling to deal with a lack of exits from their investments
So much of credit securitisation still relies on magical thinking
Rather than financial alchemy, such deals involve mispricing, reduced capital buffers and hidden risks
Carlyle bolstered by private credit and secondaries trends
Private capital group has been recovering under chief Harvey Schwartz
Banks caution over bubble as they report bumper profits
JPMorgan Chase, Goldman Sachs and Citigroup buoyed by return of dealmaking