• What’s next for BX stock?
"I would reaffirm what I said, which is it’s early in the quarter, but the redemptions in BCRED are down materially, which is positive," President and COO Jon Gray said on the company’s second-quarter earnings call.
The comment came after Blackstone said BCRED posted $1 billion in gross sales in the second quarter but saw $1.2 billion in net outflows as repurchase requests remained elevated and exceeded the vehicle’s 5% limit, with about 50% fulfilled. Gray said part of the improvement reflects calmer market sentiment after fears around private credit failed to play out.
Private Credit Platform Continues To Grow
"I think as much as anything, it’s the level of noise that has come down," Gray said. "A lot of people were calling for this massive calamity. And when the calamity did not occur, I think … that has calmed."
