Blackstone has raised about €13 bln ($14.6 bln) for its European direct lending strategy, closing its fourth European preferred direct lending fund focused on mid-market and mid-to-large borrowers. The move underscores continued institutional demand for private credit despite a turbulent year that saw higher redemption requests at some funds and investor concerns over software exposure, loan quality and asset valuations. Ares’s latest US flagship direct lending fund is raising faster than its re

Blackstone has raised about €13 bln ($14.6 bln) for its European direct lending strategy, closing its fourth European preferred direct lending fund focused on mid-market and mid-to-large borrowers. The move underscores continued institutional demand for private credit despite a turbulent year that saw higher redemption requests at some funds and investor concerns over software exposure, loan quality and asset valuations. Ares’s latest US flagship direct lending fund is raising faster than its record-setting predecessor, and ICG plans to target roughly €15 bln for its sixth European direct lending fund. Pension funds, sovereign wealth funds and insurers remain active allocators to large managers’ direct lending vehicles.