Blackstone Tops $10B in Latest Opportunistic Credit Fundraise
Blackstone has closed Blackstone Capital Opportunities Fund V with more than $10 billion of investable capital, marking the firm’s largest fund to date in its opportunistic credit strategy and exceeding its predecessor by over 14%.
The oversubscribed vehicle reached its hard cap, following the $8.75 billion close of Fund IV in January 2022. The strategy focuses on flexible, opportunistic investments across private corporate credit, including structured and bespoke capital solutions.
“Amidst a noisy backdrop for the industry, we believe this fundraise demonstrates the strength of Blackstone’s capabilities in private credit, and we’re grateful for the support from both longstanding and new investors,” said Lou Salvatore, Co-Portfolio Manager of the Capital Opportunities Funds.
Blackstone’s opportunistic credit platform has generated a 13% net internal rate of return since its inception in 2007. The firm manages approximately $520 billion in assets across corporate and real estate credit strategies, positioning it as one of the largest players in global private credit.
“We believe that this is a very attractive environment to deploy flexible capital in private corporate credit as well as to provide opportunistic and structured solutions to companies in sectors with strong thematic tailwinds,” added Rob Petrini, Co-Portfolio Manager of the Capital Opportunities Funds.