Story perspectives

Blackstone's $10 Billion Fund Surpasses Predecessor, Targets Asia

4/8/2026

Summary

Story summary

Blackstone, the private markets firm, closed its fifth flagship opportunistic credit fund, Blackstone Capital Opportunities Fund V, at a $10 billion hard cap.
The fund surpassed its predecessor by $1.25 billion.
It has generated a 13% net IRR since 2007, indicating strong institutional demand for private credit.
Co-portfolio managers Lou Salvatore and Rob Petrini described the fund's mandate across industries and geographies, as Blackstone expands Asia Pacific to compete with KKR.

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Story summary

Blackstone, the private markets firm, closed its fifth flagship opportunistic credit fund, Blackstone Capital Opportunities Fund V, at a $10 billion hard cap.
The fund surpassed its predecessor by $1.25 billion.
It has generated a 13% net IRR since 2007, indicating strong institutional demand for private credit.
Co-portfolio managers Lou Salvatore and Rob Petrini described the fund's mandate across industries and geographies, as Blackstone expands Asia Pacific to compete with KKR.