The US labour market showed signs of a steady slowdown in October, with job openings increasing moderately and layoffs declining, according to the latest Job Openings and Labor Turnover Survey (JOLTS) report released by the Bureau of Labor Statistics on Tuesday. Job openings, a key indicator of labour demand, rose by 372,000 to 7.744 million at the end of October. However, the September figures were revised downward to 7.372 million from the initially reported 7.443 million. Economists polled by Reuters had anticipated 7.475 million vacancies. Labour Market Dynamics While job openings increased, hires dropped by 269,000 to 5.313 million, and layoffs fell by 169,000 to 1.633 million. These figures suggest a gradual cooling of the labour market rather than a sharp contraction. Hurricanes and strikes also impacted October’s labour market data. Rebuilding efforts in storm-affected regions and the resolution of strikes at Boeing and another aerospace company are expected to contribute to a ...
Blackstone Inc has raised about US$22 billion (RM96.21 billion) in capital for a new direct lending fund aimed at institutional investors, according to a statement. This fund features a hybrid structure between drawdown funds—where investors commit to locking up capital for a set period—and evergreen funds, which allow investors to buy in and out periodically. The fund focuses on large-cap and middle-market lending transactions.
This latest fund adds to Blackstone’s well-known Blackstone Private Credit Fund (BCRED), a US$62 billion business development company that targets retail investors. Blackstone’s credit business also handles funds from insurance companies, pensions, and sovereign wealth funds.
Private credit firms are in a race to amass significant capital to remain competitive and make larger deals. For instance, Ares Management Corp recently raised US$34 billion for its own direct lending fund, while Goldman Sachs has increased its fundraising goals in response to growing demand in credit markets.
Blackstone’s new fund brings its global direct lending platform to over US$123 billion as of the third quarter, contributing to the company’s US$432 billion in credit assets under management through Sept 30.
Comments
Post a Comment