Blackstone Inc has expanded its credit assets under management to $508bn, marking an 18% year-on-year increase, according to a report by Bloomberg. The increase was led by strong inflows into the firm’s private investment-grade credit platform, which grew by 33% to about $123bn.
Blackstone’s credit strategies now span both liquid and private markets, including direct lending, asset-based finance, and opportunistic credit, with institutional demand driving expansion across geographies.
President Jon Gray said the firm has seen “exceptional momentum” across investment-grade strategies, reflecting a shift by investors toward higher-quality yield opportunities as interest rates begin to stabilise.
The firm’s broader credit unit, Blackstone Credit & Insurance, integrates both corporate lending and insurance-related mandates. Its insurance segment, which manages assets for Corebridge Financial and Resolution Life, continues to play a key role in sourcing long-duration capital for its credit funds.
The performance follows a year of record deployment in private credit, with Blackstone participating in several large-scale financings, including multi-billion-dollar unitranche loans for leveraged buyouts. Executives noted that institutional investors have continued to increase allocations to credit strategies offering consistent cash yields and lower volatility than equities.
Blackstone’s total firmwide assets under management reached $1.25tn in the third quarter, supported by growth in credit, infrastructure and real estate secondaries.
