According to CoinMeta, Blackstone Group has raised approximately 13 billion euros (14.6 billion US dollars) for its European direct lending strategy, indicating that despite a turbulent year in certain sectors of the private credit asset category, institutional investors are still willing to invest substantial funds in this market. Blackstone has completed the fundraising for its fourth European Preferred Direct Lending Fund, which is primarily targeted at borrowers in the European mid-market and large-scale markets. Prior to this, the latest US flagship direct lending fund managed by Ares Management raised funds at a faster pace than its previous record-setting fund. The group plans to raise 15 billion euros for its sixth European Direct Lending Fund. These fundraising activities show that, despite a turbulent year in the private credit market and an increase in redemptions requests for some funds, pension funds, sovereign wealth funds, and insurance companies remain keen on investing in direct lending funds operated by large management firms.