Blackstone’s (NYSE:BX) flagship private credit fund, BCRED, experienced a monthly downturn in February. This marked the fund’s first loss in over three years.
The 0.4% decline comes amid growing investor concerns about the liquidity pressures within the sector, Reuters reported.
The Morningstar LSTA index, which tracks publicly traded leveraged loans, fell by 0.8% in February, reflecting broader market challenges.
Despite the decline in performance, BCRED has delivered a 9.5% annualized total return since its inception for Class I shares. It outperformed the leveraged loan market by 100 basis points this year.
BCRED, a non-exchange-traded business company, expects to invest at least 80% of its total assets in private credit …
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