Blackstone Closes Fourth Institutional European Direct Lending Fund with €13 Billion in Investable Capital

LONDON, UK - November 4, 2026 - Blackstone has announced the final close of its fourth institutional European direct lending fund, Blackstone European Senior Direct Lending Fund IV (“BXDE IV”). Across BXDE IV and other European direct lending vehicles, including anticipated leverage, Blackstone has closed on approximately €13 billion of investable capital since BXDE IV’s launch. BXDE IV targets high-quality European borrowers across the size spectrum, with a focus on the middle and upper middle market.

Blackstone has also committed significant capital across European private credit in the period since BXDE IV’s launch. This includes lead-lender roles in transactions such as Angelini Pharma’s take-private of Catalyst Pharmaceuticals (€1.0 billion), Regnology (€780 million), Odevo (€649 million), and JTC (€382 million).

This announcement builds on over two decades of credit investing in Europe, including direct lending, infrastructure & asset based credit and CLOs. Today, Blackstone Credit & Insurance has over 100 investment professionals across five European offices in London, Dublin, Frankfurt, Milan and Paris. Credit is a significant part of the opportunity the firm sees to invest in more than $500 billion of assets in Europe by 2035.

Brad Marshall, Global Head of Private Credit Strategies at Blackstone Credit & Insurance, said: "This fundraise reflects investors' confidence in private credit and our ability to deliver scaled financing across market cycles. We're grateful for their continued trust and see strong, growing demand for high-quality private credit."

Mike Carruthers, European Head of Private Credit Strategies at Blackstone Credit & Insurance, said: "We believe Europe remains one of the most attractive private credit markets globally, with borrowers valuing the certainty, scale and flexibility we provide. We thank our investors for their support and look forward to putting their capital to work across the region."

About Blackstone Credit & Insurance
Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

Blackstone Media Contact:

Felix Lettau
[email protected]