The famous financier stated: there is no talk of a bubble, something completely different is happening behind the scenes.
According to Blackstone, the pace of capital withdrawal from its private credit fund has slowed down due to investors’ mass attempts to redeem their stakes in early 2023 due to fears of potential losses. The fund manager reported more favorable second-quarter results than expected, which was supported by the returns from investments in artificial intelligence and data centers. Jonathan Gray, the CEO of Blackstone, emphasized that financing AI startups is currently a unique opportunity.
According to Blackstone, the pace of withdrawals from its flagship private credit fund has slowed, as investors have been trying to redeem their shares en masse, fearing potential losses at the beginning of the year. The fund manager also reported a better-than-expected second quarter result, which was mainly driven by the returns from investments in artificial intelligence and data centers, according to the Financial Times. Jonathan Gray, the CEO of Blackstone, reassured those concerned about a bubble in AI startups, stating that it is currently a unique opportunity to finance these companies.
