Blackstone’s $82 billion private credit fund experienced unusually high redemption requests that exceeded typical quarterly limits, prompting the firm to raise its redemption cap from 5% to 7%. These withdrawals were driven by recent corporate bankruptcies, credit stress in auto suppliers and subprime lenders, AI-sector loan concerns and higher bond yields, contributing to a 28.2% stock decline over three months.

Blackstone has retained Citigroup to explore a sale of ShyaHsin Packaging, aiming for a valuation of at least $1 billion. Acquired in 2017 for $800–900 million, the beauty-packaging maker operates facilities in China and Mexico and has drawn interest from private equity firms and strategic buyers, though no final decision has been made.

Despite near-term liquidity concerns, Blackstone ended 2025 with $1.27 trillion in assets under management and $198.3 billion of dry powder. While a premium forward P/E of 16.6x versus the industry’s 9.8x raises valuation questions, diversified AUM channels and substantial investable capital support long-term growth, though credit market headwinds may pressure fee-related earnings in the near term.