Blackstone Closes with $22B in First Evergreen US Direct Lending Fund

Blackstone made the final close on the inaugural series of its evergreen Senior Direct Lending Fund with approximately $22B in captured capital commitments, bringing the total AUM of its global direct lending platform to over $123B.

The alternative investment firm announced in an October 29 press release that the fund was heavily oversubscribed, significantly exceeding its initial target size of $10B. Under the Blackstone Credit and Insurance (BXCI) platform, the firm said it has more than doubled its total deployed capital in direct lending from 2023, having mobilized $40B in direct lending investments in the third quarter of this year alone.

BXCI said that as of September 30, it manages approximately $432B in assets related to its credit platform and real estate debt businesses with over 4,700 issuers across portfolios.

View the press release here.