Blackstone Raises $22 Billion in New Direct Lending Fund
- Fundraise is for an evergreen fund targeting institutions
- Firm has swelled direct lending platform to over $123 billion
The Blackstone headquarters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Blackstone Inc. amassed about $22 billion of capital, including anticipated leverage, for a new direct lending fund targeting institutional investors, according to a statement seen by Bloomberg.
The structure of the fund is essentially a hybrid between drawdown funds, where investors agree to lock up capital for a certain number of years, and traditional evergreen funds, which have no set maturity but let investors buy in and out periodically. The fund is focused on lending in large-cap and middle-market transactions, according to the statement.