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Blackstone Struggles to Sell Private Credit to Europe's Rich

(Bloomberg) -- Blackstone Inc. President Jon Gray told analysts last month that private credit is having a “golden moment” as fund managers take advantage of tighter credit after recent banking turmoil. Left unsaid was that a big push in Europe is proving an exception. Almost six months after starting a fund targeting the region’s wealthy, the firm’s figures show it’s amassed €240 million ($261 million) for the product — through investor commitments and fund leverage — which is d...
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