Jim Cramer Mentions Blackstone as He Discusses How the Market Ignored Private Credit Worries

Blackstone Inc. (NYSE: BX ) was among the stocks Jim Cramer highlighted on Mad Money as he noted that the market has an appetite for stocks . Cramer discussed the stock’s recent rally, as he stated:

This morning, the worries over private credit started all over again. Remember when all the intelligentsia told how bad that was going to be with the talk of redemptions by individuals who didn’t know the risks of these funds. Blackstone, a gigantic private equity… limited redemptions of a flagship private credit fund during its regularly scheduled opening. Normally, that kind of news, oh boy, it would cause a lot of fear and send the entire market plummeting as it regularly did not that long ago.

Instead, the market just chose to overlook it… Blackstone stock jumped 7.5% today. It was the best performer in the entire S&P 500. Two months ago, it probably would’ve been the worst performer in the S&P 500. The doom-mongers would’ve just taken this one to town. KKR and Ares Management, two more private equity firms [that] have been afflicted by redemptions, also rallied nicely. In fact, they were among the top 10 performers in the whole S&P 500, too.

Blackstone Inc. (NYSE:BX) manages alternative assets, specializing in private equity, real estate, hedge fund solutions, and credit strategies.

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