Blackstone is planning to double the size of its European private credit fund in the next year after raising EUR 1B from the region’s rich, Euan Healy of The Financial Times reports. The company has taken nearly two year to reach this milestone, after launching its European Private Credit Fund in 2022 with the aim of replicating the success of its $54B U.S. flagship fund. “It took us 21 months to get to EUR 1bn,” said Mike Carruthers, senior managing director and the European head of private credit at Blackstone. “I would like to challenge the team to get to EUR 2bn in half that time, to double it in the next 10 to 11 months.”
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