Key Takeaways
- • Blackstone announced the final close of Blackstone European Senior Direct Lending Fund IV (BXDE IV), with approximately €13 billion of investable capital across BXDE IV and other European direct lending vehicles, including anticipated leverage, since the fund's launch.
- • BXDE IV targets high-quality European borrowers across the size spectrum, with a focus on the middle and upper middle market.
- • Blackstone reported lead-lender roles in recent European transactions: Angelini Pharma's take-private of Catalyst Pharmaceuticals (€1.0 billion), Regnology (€780 million), Odevo (€649 million), and JTC (€382 million).
- • Blackstone Credit & Insurance has over 100 investment professionals across five European offices in London, Dublin, Frankfurt, Milan and Paris, and sees credit as a significant part of its goal to invest more than $500 billion of assets in Europe by 2035.
Summary
Blackstone has announced the final close of its fourth institutional European direct lending fund, Blackstone European Senior Direct Lending Fund IV ("BXDE IV"), according to the firm's November 4, 2026 announcement from London. 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. The fund targets high-quality European borrowers across the size spectrum, with a focus on the middle and upper middle market.
The firm also cited significant capital committed across European private credit over the same period, including lead-lender roles in several transactions: Angelini Pharma's take-private of Catalyst Pharmaceuticals (€1.0 billion), Regnology (€780 million), Odevo (€649 million), and JTC (€382 million). The announcement builds on more than two decades of credit investing in Europe across direct lending, infrastructure and asset-based credit, and CLOs.
Blackstone Credit & Insurance (BXCI) currently has over 100 investment professionals across five European offices in London, Dublin, Frankfurt, Milan and Paris. The firm identifies credit as a significant part of its opportunity 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 the fundraise "reflects investors' confidence in private credit and our ability to deliver scaled financing across market cycles." Mike Carruthers, European Head of Private Credit Strategies at the firm, said Europe "remains one of the most attractive private credit markets globally, with borrowers valuing the certainty, scale and flexibility we provide."
The firm also cited significant capital committed across European private credit over the same period, including lead-lender roles in several transactions: Angelini Pharma's take-private of Catalyst Pharmaceuticals (€1.0 billion), Regnology (€780 million), Odevo (€649 million), and JTC (€382 million). The announcement builds on more than two decades of credit investing in Europe across direct lending, infrastructure and asset-based credit, and CLOs.
Blackstone Credit & Insurance (BXCI) currently has over 100 investment professionals across five European offices in London, Dublin, Frankfurt, Milan and Paris. The firm identifies credit as a significant part of its opportunity 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 the fundraise "reflects investors' confidence in private credit and our ability to deliver scaled financing across market cycles." Mike Carruthers, European Head of Private Credit Strategies at the firm, said Europe "remains one of the most attractive private credit markets globally, with borrowers valuing the certainty, scale and flexibility we provide."
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.