BX · 10-Q · 2026Q2 · Full report

BCRED Net Outflows

Blackstone Inc. · 2026-08-07 · Importance 37 · Surprise 42

BCRED experienced net outflows in the second quarter of 2026 because redemption requests remained elevated and subscriptions, although solid, decelerated from the prior quarter. Redemption activity was attributed largely to heightened press and market attention concerning private credit and concerns about decelerating performance. Management stated that net flows are likely to remain negatively affected by the current market environment, although third-quarter redemption requests were significantly lower than in the second quarter. BCRED had $42.8 billion of net asset value as of June 30, 2026.

Key facts

• Credit & Insurance inflows for the six months ended June 30, 2026 were $68,030,495 thousand ($68.0 billion) and outflows were $16,976,185 thousand ($17.0 billion). source
• Credit & Insurance stated that redemption requests in BCRED remained elevated and that subscriptions decelerated from the prior quarter, resulting in net outflows in the second quarter of 2026. source