The Private Credit Collapse Accelerates

The Blackstone Private Credit Fund faces record redemptions. Shit, meet fan.

Shit continues to hit the fan in private credit, as we have long suspected would happen. As I’ve tried to keep in the discussion, while all eyes over the past few days have understandably been glued to the escalating conflict with Iran and its knock-on effects across energy and equities, that geopolitical noise has overshadowed financial fault lines developing in credit markets.