Blackstone designed funds with credit cycles in mind, CEO says

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April 23, 2026 9:39 AM EDT

FILE PHOTO: A member of the NYPD stands guard at the Blackstone offices in Manhattan, in New York City, U.S., August 4, 2025. REUTERS/David 'Dee' Delgado/File Photo

NEW YORK, ‌April 23 (Reuters) - ​The ​world's largest alternative asset manager Blackstone designed its funds ‌with changes in credit markets ⁠in mind, its chairman and CEO said ‌on Thursday, as ‌the company reported rising earnings amid some investor concerns about private ​debt.

"We believe we are moving toward a period of lower ⁠base rates once we work through the impact ​of the Iran war," Stephen Schwarzman told analysts on a ​conference call.

"We also expect ‌defaults to move higher from historic lows, as ⁠we stated previously," he added.

"But we've designed our funds with these cycles ⁠in mind, with low fund leverage, high ​current income generation and the equivalent of meaningful reserves for future potential losses, and ‌remain highly confident in our ability to continue to ‌achieve a premium return ⁠to liquid markets ‌over time."

(Reporting by ​Isla Binnie in New York and Utkarsh Shetti in ‌Bengaluru)


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