AnnaMaria Andriotis
speaker
89 appearances
3 recordings
1 series
first heard Nov 2025
last heard 31 Jul
AnnaMaria Andriotis’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jul 2026 with 1.
Appearances
Okay, so one key thing here, Matt.
Redemptions have been a big headline in terms of individual investors trying to pull their money out of credit funds.
What Blackstone's earnings showed was that new money going into private credit
slowed for the second straight quarter.
Simultaneously, the inflows into other private investment categories like private equity and real estate increased.
The company attributed what occurred to the retail channel, essentially individual investors, who have now slowed putting more new money into its private credit business.
And similarly, yesterday, Blue Owl also showed a slowdown in money raised for its credit business, $1.8 billion in 2Q of this year versus $5.8 billion a year prior.
Pretty meaningful slowdown.
But, Matt, you reported yesterday on the latest earnings from Blue Owl and KKR, the concerns about software companies.
I mean, is this still a big issue?
I would say it ain't over yet.
Okay, so Blackstone had a strong second quarter despite the private credit pullback that we talked about with individual investors.
And the main reason for that,
to your point, is AI.
So when we talk about things like the building out of data centers, owning stakes in companies like Anthropic, OpenAI, all of these different AI-related investments are found throughout its major divisions, whether it's private equity or private credit in real estate infrastructure.
And we're seeing the company assigning deal after deal.
In recent weeks, Blackstone's credit business announced that it's partnering with Broadcom.
to launch a platform that's backed by an initial $35 billion to finance AI infrastructure.
Apollo is also in that deal.
And then Blackstone and Google plan to create an AI cloud company to rival the likes of CoreWeave using Google's specialized chips.
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