FILE PHOTO: Signage is seen outside the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File Photo/File Photo Acquire Licensing RightsNov 16 (Reuters) - Blackstone (BX.N) is in the final stages of raising about $400 million for its Blackstone Private Credit Fund (BCRED) to secure additional investment advantage, the Financial Times reported on Thursday. The private equity firm will sell loans that BCRED owns to the CLO to enhance competitiveness, FT said. Blackstone, which also manages multiple other funds, faced a significant decline in withdrawal requests from Blackstone Real Estate Income Trust (BREIT) in September, Kathleen MacCarthy, its global co-head of real estate, said then. Financial Times had in August reported that Blackstone, , plans to launch a private equity fund for wealthy individuals early next year.

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Persons: CLOs, Blackstone, Kathleen MacCarthy, Mrinmay Dey, Dhanya Ann Thoppil Organizations: Blackstone Group, REUTERS, Blackstone, Blackstone Private Credit Fund, Financial Times, The, Reuters, Unified Women’s Healthcare, Blackstone Real, Income, Thomson Locations: New York City, U.S, The New York, Bengaluru