据普里蒂·辛格（Preeti Singh）和亚历克斯·拉伊班达里（Alex Rajbhandari）报道，黑石集团已为其私募信贷延续基金筹集了约10亿美元，在继续管理其贷款组合的同时套现了现有投资者。
Inc. has raised roughly $1 billion for a private credit continuation fund, cashing out its existing investors as it continues to manage its loan portfolio.
知情人士透露，安联全球投资者（Allianz Global Investors）是该工具的主导买家，该工具持有的资产来自2022年完成募资的黑石资本机会基金四期（Blackstone Capital Opportunities Fund IV），因讨论机密信息，知情人士要求匿名。知情人士还表示，StepStone集团也是买家之一。
Allianz Global Investors is the lead buyer of the vehicle, which holds the assets of Blackstone Capital Opportunities Fund IV that wrapped up fundraising in 2022, said people familiar with the deal, who asked not to be identified discussing confidential information. StepStone Group Inc. is also a buyer, the people said.
截至6月30日，最初的基金产生了11%的净内部收益率。知情人士称，Evercore公司就最近的延续流程为黑石提供了咨询。知情人士表示，其他黑石基金继续持有其中部分贷款。
The original fund generated an 11% net internal rate of return as of June 30. Evercore Inc. advised Blackstone on the recent continuation process, the people said. Other Blackstone funds continue to hold some of these loans, the people said.
黑石和安联拒绝就该交易置评。Evercore和StepStone未回复置评请求。
Blackstone and Allianz declined to comment on the transaction. Evercore and StepStone didn’t reply to requests for comment.
私募信贷二级市场交易曾是二手股权投资中较为冷门的领域，如今已成为增长最快的板块之一。根据Evercore的一份报告，将部分贷款组合重组至延续工具中的交易在2026年上半年飙升至204亿美元，超过了去年全年的总和。
Private credit secondaries deals, once a quieter corner of the market for secondhand stakes, have become one of the fastest growing segments. Transactions in which portions of loan portfolios are shuffled into continuation vehicles surged to $20.4 billion in the first half of 2026, more than all of last year, according to a report by Evercore.
以黑石等基金经理为主导的交易今年上半年总计达到17亿美元，较2025年同期几乎翻了两番。
Transactions led by fund managers such as Blackstone totaled $17 billion in the first half of this year, almost tripling from the same period in 2025.