Blackstone Group BCRED Redemption and Inflow Update

Blackstone's BCRED product saw 2Q redemptions rise to 10% of NAV while fulfilling 5% of requests, yet onshore redemption trends are moderating. Overall fundraising in the BX Wealth suite is showing acceleration in June, supporting the firm's outlook.

Key Takeaways

• 1.BCRED redemptions for 2Q totaled ~10% of NAV, fulfilling 5% of requests, with signs that onshore US redemptions are decelerating.
• 2.Broader BX Wealth suite gross fundraising accelerated in June, showing resilience.
• 3.BCRED maintains strong liquidity, with over $15bn available to cover redemptions.

Table of Contents

• Disclosure Appendix
• Reg AC
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures