Key facts
- Blackstone's president, Jon Gray, reported improved inflows from individual investors in June.
- Inflows in June reached 50% higher than in April and May, returning to first-quarter levels.
- Private credit funds for wealthy individuals experienced net withdrawals earlier in the year.
- Blackstone saw its strongest inflows for private equity products since their launch in June.
Blackstone has seen an improvement in inflows from individual investors in June, according to statements made by its president and chief operating officer, Jon Gray. Speaking at the Morgan Stanley U.S. Financials Conference, Gray indicated that after a slowdown in April and May, inflows by June 1 had increased by 50%, returning to levels seen in the first quarter.
Gray distinguished between investor appetite for private credit and private equity. He noted that "lower flows in credit right now, given the noise," were occurring. However, he highlighted that for private equity, June 1 marked the "greatest, the best inflows we had since we launched the product."
Earlier in the year, private credit funds catering to wealthy individuals had experienced more withdrawals than new capital commitments for the first time. Partners Group, a Swiss-based alternative investment firm, recently linked increased investor requests for withdrawals from private equity funds to concerns about private credit spilling over into other asset classes.