Blackstone has crossed €1.1bn in total assets for its European private credit fund. The equity is raised from European high net worth investors.

The fund – the European Private Credit Fund (ECRED) – has been sold through distributors including BNP, UniCredit and Julius Baer.

It was established in 2022, has a Net Asset Value of €525m, and has 112 positions across 35 industries. It’s top sectors by assets are Software (26%), Insurance (11%), HealthCare Providers and Services (7%), IT Services (7%), and Pharmaceuticals (6%). As of 31/05/24.

As European high net worth investors get more comfortable with private credit – including through global asset class growth, more news coverage, and the marketing efforts of some of the largest fund managers including Blackstone – demand might increase rapidly.

Fund managers, investment bankers and service providers might do well to position themselves for the growth of this business.