Private equity giant Blackstone’s top-performing fund has seen a record number of investors withdraw their cash. Nearly 8% of the fund’s investors requested redemption, citing rising defaults among its borrowers. This trend is not unique to Blackstone, with other firms like Apollo, Ares, and Blue Owl also experiencing high withdrawal rates. The reason behind this exodus remains unclear, but some attribute it to a disconnect between media reports and actual portfolio performance.
Source: https://www.nytimes.com/2026/04/06/opinion/banking-crisis-private-credit.html