Black Rock Down
The Quiet Run Eight Funds. Four Sponsors. One Pattern. I. EXECUTIVE SUMMARY On March 3, 2026, Blackstone Private Credit Fund — the largest non-traded private credit vehicle in the world, with $82B in assets under management — reported its first-ever net outflows — more money redeemed than raised. $3.7 billion walked out the door. $2 billion walked in. The difference — $1.7 billion — represents something that has never happened before in the fund’s history. ...