美国私募信贷市场正面临新一轮压力测试。软件公司Medallia和牙科服务商Affordable Care相继出现贷款违约，涉及黑石、KKR、阿波罗等私募信贷巨头逾44 亿美元的敞口，令这一已积聚诸多矛盾的华尔街市场角落再度绷紧。 据媒体援引知情人士透露， Medallia已无力偿还约30亿美元贷款， 私募股权所有者Thoma Bravo近期已告知最大贷款方黑石，将把公司控制权交还给债权人 ，Thoma Bravo在这笔2021年收购中投入的约51亿美元很可能血本无归。 与此同时，黑石、KKR等机构也在就Affordable Care的14亿美元贷款展开重组谈 判。 两笔违约直接冲击市场。黑石旗下最大私募信贷基金BCRED本周披露，一季度不良贷款率升至创纪录的2.4%，对应其805亿美元的投资组合，并点名Medallia 和Affordable Care为主要原因。黑石首席执行官Stephen Schwarzman周四在分析师电话会议上强调基金流动性充裕，但黑石股价当日仍下挫6%。 两笔违约已在多家私募信贷机构账面留下明显印记。黑石和KKR在去年12月将其Medallia贷款估值定为面值的约80美分，但本月已骤 ...

Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv Oracle logo is seen in this illustration created on September 9, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab Related Digital secures financing for $16 billion Oracle data center in Michigan | Reuters US judge dismisses Musk's fraud claims in OpenAI case, plans to proceed to trial Worldcategory· April 24, 2026 · 11:36 PM UTC · ago A U.S. judge on Friday dismissed Elon M ...

Related Digital Announces Financing for $16 Billion Oracle Data Center Project in Saline Township, Michigan Accessibility Statement Skip Navigation Related Digital and Funds Affiliated with Blackstone Commit Equity to Fund Project; Fixed Rate, Long-Term Debt Financing Anchored by PIMCO-Managed Funds and Accounts Campus Creates Thousands of Union Construction Jobs and Significant Community Investment DALLAS, April 24, 2026 /PRNewswire/ -- Related Digital, a vertically integrated data center development and i ...

公司债务违约情况 - 软件制造商Medallia和牙科服务提供商Affordable Care无法偿还从包括黑石集团和KKR在内的私人信贷机构借入的数十亿美元贷款 [1] 涉及的金融机构 - 私人信贷机构包括黑石集团和KKR [1]

Blackstone Inc. (NYSE:BX) was among the stocks covered in Jim Cramer’s Mad Money recap as he urged investors to focus on the fundamentals of companies. Cramer mentioned the company during the episode and stated: How about Blackstone, BX? Okay, not that long ago, we were reading about how this terrific private equity firm could be crushed by its private credit business line. Now, it had owned a fund that had big redemptions because of fear that the fund’s software investments would be destroyed by Anthropi ...

公司业绩与战略 - 公司第一季度净利润同比增长5.6%至6.497亿美元，可分配收益同比跃升25%至17.6亿美元，超出分析师预期 [2] - 公司总裁兼首席运营官表示，公司已成为一家规模达3000亿美元的电力与数据基础设施投资标的，并强调向人工智能基础设施倾斜的战略是驱动业绩的关键 [1][2] - 公司总裁称，在表现最佳的十项投资中，有八项与人工智能基础设施相关，如数据中心和电池存储，并认为人工智能建设将是未来主要驱动力 [3] - 公司总裁预计，随着人工智能公司重返公开市场，今年可能成为公司有史以来首次公开募股业务表现最佳的一年 [3] 业务板块表现 - 公司私募信贷机构募资业务创下有史以来最佳季度表现之一，体现了其“全天候”公司的特性 [2] - 受投资者担忧人工智能可能颠覆软件公司等因素影响，私募信贷基金（包括公司的BCRED基金）近期出现资金流出，导致该业务及保险板块的可分配收益较2025年第一季度下降26% [4] - 尽管面临针对私募信贷领域的负面舆论，公司首席执行官强调该业务长期回报强劲、基金结构稳健且机构投资者与保险公司需求持续 [6] - 公司旗下BCRED基金自2021年推出以来已实现9.4%的回报率 [6] 市场与行业动态 - 公司股价在财报发布当日收盘下跌近6% [4] - 摩根大通正与机构投资者洽谈，计划筹集数十亿美元资金以推动新的私募信贷业务，尽管其首席执行官半年前曾对该市场表示过谨慎 [5]

Blackstone (BX) president Jon Gray said on Thursday he still expects the firm to have a major year taking companies public, and the main driver is coming from artificial intelligence. “Once this war resolves, I do think we’ll see an acceleration,” said Gray, who is Blackstone’s No. 2 executive and the eventual successor of longtime CEO Stephen Schwarzman. “We think we'll be able to get a number of IPOs done,” he added. Despite a volatile start to 2026, which included the outbreak of the US-Israeli war ...

Performance was driven by exceptional strength in infrastructure, particularly data centers and energy, which powered positive appreciation across flagship strategies despite broader market declines. Management attributes the firm's resilience to a long-term strategic pivot toward 'hard assets' like logistics and digital infrastructure that are insulated from AI-driven disruption. The firm has established itself as a leading global investor in AI infrastructure, with a $150 billion data center portfol ...

核心财务表现 - 2026年第一季度营收为34.3亿美元，同比增长24.2%，超出扎克斯共识预期3.32亿美元3.26% [1] - 第一季度每股收益为1.36美元，高于去年同期的1.09美元，超出扎克斯共识预期1.35美元1.05% [1] - 公司总管理及咨询费净收入为21.3亿美元，同比增长12.7%，超出四位分析师平均预期的21.1亿美元 [4] - 公司基础管理费收入为19.5亿美元，同比增长8%，略低于四位分析师平均预期的19.7亿美元 [4] 各业务板块管理费收入 - 私募股权业务总管理费净收入为8.0192亿美元，同比增长29%，大幅超出四位分析师平均预期的7.4004亿美元 [4] - 私募股权业务基础管理费收入为6.5999亿美元，同比增长14.1%，略高于四位分析师平均预期的6.5438亿美元 [4] - 房地产业务总管理费净收入为6.7748亿美元，同比下降3.3%，略低于四位分析师平均预期的6.8438亿美元 [4] - 信贷与保险业务总管理费净收入为5.0849亿美元，同比增长13.7%，低于四位分析师平均预期的5.4114亿美元 [4] - 多资产投资（对冲基金解决方案）业务总管理费净收入为1.4492亿美元，同比增长18.5%，略高于四位分析师平均预期的1.4416亿美元 [4] 各业务板块收费资产管理规模 - 私募股权业务收费资产管理规模为2558.4亿美元，高于四位分析师平均预期的2477.7亿美元 [4] - 房地产业务收费资产管理规模为2775.0亿美元，低于四位分析师平均预期的2814.9亿美元 [4] - 信贷与保险业务收费资产管理规模为3132.6亿美元，低于四位分析师平均预期的3285.0亿美元 [4] - 多资产投资（对冲基金解决方案）业务收费资产管理规模为910.0亿美元，高于四位分析师平均预期的875.2亿美元 [4] 其他财务指标与市场表现 - 已实现本金投资收益为3197万美元，同比下降72.9%，但高于四位分析师平均预期的2642万美元 [4] - 过去一个月公司股价回报率为+19.7%，同期扎克斯标普500综合指数回报率为+9.7% [3] - 公司股票目前被扎克斯评为4级（卖出），表明其近期表现可能弱于整体市场 [3]

Blackstone (NYSE:BX) Q1 2026 Earnings call April 23, 2026 09:00 AM ET Company ParticipantsBrian Bedell - DirectorBrian McKenna - Managing DirectorCraig Siegenthaler - Managing Director and North American Head of Diversified FinancialsCrispin Love - DirectorJonathan Gray - President and COOMichael Chae - Vice Chairman and CFOMichael Cyprys - Managing DirectorPatrick Davitt - PartnerStephen Schwarzman - Chairman and CEOWeston Tucker - Head of Shareholder RelationsConference Call ParticipantsAlexander Blostein ...