Institution: Blackstone Group may face reduced fundraising and more redemptions.

Sina Finance reported on March 31 that Greggory Warren of Morningstar Company stated in a report that Blackstone Group's credit and insurance department may face reduced fundraising and increased redemptions in the private credit market as it faces resistance. The analyst indicated that due to Blue Owl's handling of some private credit funds, the future of private credit appears dim, leading to heavy blows for management companies with alternative credit products. He added that concerns about artificial intelligence disrupting software companies also create pressure, as software companies are a direct lending area for many private credit funds. Warren said that although Blackstone Group's direct lending exposure is not as large as its peers Ares and Blue Owl, this alternative asset management company has enough exposure to private credit that it will be affected in the coming years. Morningstar has lowered its fair value estimate from $175 to $145.