Blackstone Leaders Dismiss Private Credit Concerns Amid Recent Bankruptcies
Blackstone’s top executives have pushed back against attempts to connect recent high-profile bankruptcies with private credit markets. Steve Schwarzman described such links as “misinformation” while Jon Gray emphasized the isolated nature of these cases. The firm reported continued strong inflows to credit strategies despite market concerns.
Blackstone Challenges Private Credit Narrative
Blackstone executives have strongly refuted attempts to link recent corporate bankruptcies to the private credit market, with CEO Steve Schwarzman characterizing such connections as “misunderstandings and misinformation,” according to the firm’s third-quarter earnings call. The comments come amid market scrutiny following high-profile failures including auto lender Tricolor and auto-parts manufacturer First Brands, which JPMorgan CEO Jamie Dimon reportedly referred to as “cockroaches.”