business / news / / The Economic Times
Troubled loans, especially from software firms impacted by artificial intelligence, caused this decline.
Blackstone and BlackRock reduced private credit portfolio values due to AI-disrupted software sector loans.
KEY POINTS
- Nearly half of Blackstone Secured Lending Fund's markdowns stemmed from just two non-accrual loans.
- Medallia, a troubled software borrower, will get new capital for AI feature development from Blackstone.
- BlackRock TCP Capital recorded $32.7 million in net realized losses tied to troubled software loans.
- Blue Owl sold $1.4 billion in assets in February due to high investor withdrawal requests.
COMPANIES
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