Blackstone Sees Withdrawal Surge, Deepening Jitters in Private Credit

‘Cockroaches’ could be appearing more in the U.S. private credit market.The ticker and trading information for Blackstone Group is displayed on the floor of the New York Stock Exchange on April 4, 2016. Brendan McDermid/Reuters3/3/2026|Updated: 3/3/2026Client withdrawals surged at Blackstone’s flagship private credit fund in the first quarter, adding to growing caution among investors in the private credit space.The New York private‑investments giant reported that clients pulled $3.7 billion from its $82 billion BCRED fund in the January–March quarter, according to a March 2 filing with the Securities and Exchange Commission.