Blackstone looks to sell $2 billion of fund stakes, FT says

Blackstone Inc. is aiming to offload over $2 billion of its holdings in private‑equity funds by packaging those stakes into bonds for investors, according to the Financial Times.

The firm is promoting a collateralized fund obligation that would combine its leveraged‑buyout‑fund interests, the FT said, citing sources familiar with the situation. This transaction would rank among the biggest ever issued, surpassing a comparable deal executed last year by Carlyle Group Inc.’s AlpInvest division.

A Blackstone spokesperson did not reply promptly to a request for comment.

Numerous private‑equity groups have found it difficult to divest assets acquired during the low‑interest‑rate period of 2020‑2022, complicating efforts to return capital to investors.

CFOs have turned to these structures as a means of generating liquidity while retaining the underlying buyout positions. Evercore Inc. estimates that the market for such instruments could exceed $30 billion of fresh issuance this year, representing a roughly 50 % increase over 2025 levels.

Additional coverage can be found on bloomberg.com

Published on June 8, 2026