Matt Wirz
speaker
46 appearances
1 recordings
1 series
first heard Jul 2026
last heard 31 Jul
Matt Wirz’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 — 1 in all, peaking in Jul 2026 with 1.
Appearances
Hello, listeners.
It is July 31st.
I'm Matt Wertz, reporter for The Wall Street Journal, and this is What's News in Earnings, our look at some of the biggest themes standing out this earnings season.
It's been a tough year for private investment firms like Blackstone, Blue Owl, KKR.
Seven of the largest of these firms now manage over $5 trillion.
They use that to bankroll everything from credit cards to corporate loans to construction of data centers that are popping up all over the country.
But their once high-flying stocks have been battered of late by a client exodus from their private credit funds.
Share price declines this year range from 15% for the likes of Blackstone and Apollo to more than 30% for Blue Owl.
Ouch.
There's also been gridlock in private equity deal-making.
There's been big losses from bets they made on software companies that risk being replaced by AI.
Now, these companies are trying to flip the script.
Blackstone showed a surge in deal activity, while KKR has reported a record quarter for sales of assets in its private equity funds.
Blue Owl, though, a big player in private credit, reported a 37% drop in new fundraising from a year ago.
Will these fund managers rebound or stay stuck in the doldrums?
Here with me to dissect the recent earnings is Ana Maria Andriotis, the journal's lead financial reporter and my colleague in covering the industry.
All right.
Blue Owl and Blackstone say the giant sucking sound coming out of private credit is quieting as client redemption requests decline.
Is the worst over, Anna Maria?
That's my takeaway.
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