Blackstone has received regulatory approval in the US for its latest private credit fund, that will give retail investors access to the asset class.
The Blackstone Private Multi-Asset Credit and Income Fund (BMACX) has been “declared effective” by the Securities and Exchange Commission, according to a Blackstone statement.
BMACX is an interval fund, meaning that investors can only cash out after set periods. It will invest across private corporate credit, asset based and real estate credit, structured credit and liquid credit.
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It will have daily subscriptions, low investment minimums and capital invested immediately, Blackstone said.
The alternative asset manager expects BMACX to be available for purchase in the second quarter of 2025.
“BMACX brings the full power of Blackstone’s credit platform to investors in a single fund,” said Gilles Dellaert, global head of Blackstone Credit & Insurance.
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“This multi-asset approach creates a core portfolio building block to tap into the expanding private credit markets, which we believe can offer enhanced yield with less volatility than traditional fixed income.”
Private credit asset managers have been increasingly tapping into the retail market in recent years to diversify their sources of funding amid a challenging fundraising environment.
In the US, retail investors have been accessing the market mainly through interval funds, which now oversee $85bn (£66bn) of assets, according to Bloomberg data.
Read more: Regulator raises concerns about Apollo and State Street private credit ETF
