Blackstone CEO Steve Schwarzman Defends Private Credit Amidst Negative Campaign

Blackstone's Steve Schwarzman hits back against 'intensively negative campaign' against private credit

Blackstone CEO Steve Schwarzman. Bloomberg/Getty Images Private credit concerns have been roiling the industry after a $20 billion redemption rush. Blackstone's leaders say this has been driven by an "intensely negative campaign" against the sector. Even as some retail investors exit, it saw $37 billion in private credit inflows in the first quarter. In the time since private credit became Blackstone's largest business, the sector has gone from star to a thorn in the industry's side. A wave...