Blackstone Closes European Lending Fund as Strategy Reaches €13B

Blackstone has held the final close of its fourth institutional European direct lending fund, raising approximately €13 billion across its European direct lending vehicles, including anticipated leverage, since inception.

Blackstone European Senior Direct Lending Fund IV targets high-quality European borrowers of all sizes, with a focus on the middle and upper-middle market. Since the fund launched, Blackstone has been a lead lender on several European deals, including Angelini Pharma’s take-private of Catalyst Pharmaceuticals, at €1 billion; Regnology, at €780 million; Odevo, at €649 million; and JTC, at €382 million.

Mike Carruthers, European head of private credit strategies, said Europe remains one of the most attractive private credit markets globally.

Blackstone has invested in European credit for more than two decades across direct lending, infrastructure and asset-based credit, and CLOs. Credit is a significant part of the firm’s plan to invest in more than $500 billion of assets in Europe by 2035.