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Blackstone's BCRED Fund Faces First Loss in Three Years

3/21/2026

Summary

Story summary

Blackstone Inc.'s BCRED private credit fund declined 0.4% in February, its first monthly loss in more than three years, and the first since September 2022.
The drop follows investor concerns about liquidity and credit quality in private credit.
Blackstone said BCRED has outperformed the leveraged loan market, with 9.5% annualized total return since inception.
BCRED faced $3.7 billion in withdrawals in the first quarter, leading banks to tighten lending.

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Story summary

Blackstone Inc.'s BCRED private credit fund declined 0.4% in February, its first monthly loss in more than three years, and the first since September 2022.
The drop follows investor concerns about liquidity and credit quality in private credit.
Blackstone said BCRED has outperformed the leveraged loan market, with 9.5% annualized total return since inception.
BCRED faced $3.7 billion in withdrawals in the first quarter, leading banks to tighten lending.