Blackstone, a publicly owned company based in the US, operates with approximately 3,170 employees. Founded in 1985, the company functions as an alternative investment management firm, with its primary operations in New York City.
Blackstone faced capital withdrawals from its flagship private credit fund by individual investors due to investment strategy concerns, which the firm addressed during its first-quarter conference call on May 2, 2026, highlighting its robust non-investment-grade platform and expanding investment-grade strategy. This came amidst broader market narratives on May 2, 2026, warning of a potential private credit crisis, amplified by company collapses and withdrawal restrictions by other managers. Earlier on May 2, 2026, a consortium of private credit lenders led by Blackstone moved to take control of customer experience software firm Medallia in a debt-for-equity restructuring, one of the largest in private credit, equitizing $2.8 billion in outstanding debt and effectively erasing Thoma Bravo's $5.1 billion equity stake. Previously, on May 1, 2026, Blackstone CEO and Chairman Steve Schwarzman hosted the 10th reunion celebration for the Schwarzman Scholars program at Tsinghua University in Beijing, a program he built to educate young leaders on China. Also on May 1, 2026, KBRA assigned a BBB rating with a Stable Outlook to $14 billion in senior secured notes for a 974MW data center campus in Washtenaw County, Michigan, a project being funded by Related Digital and Blackstone through a special-purpose issuer and backed by long-term leases to Oracle America Cloud Services LLC.
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