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Blackstone's Gray on UK Policies, Private Credit, Impact of Iran War

Blackstone President and Chief Operating Officer Jon Gray says the UK government’s attempts to balance the books through higher taxes are pushing entrepreneurs to move abroad. In an interview for the upcoming podcast series, Leaders with Francine Lacqua which launches March 16, Gray also says that recent ructions in the world of private credit aren't indicative of systemic issues. He also expects dealmaking to pick up sooner than people expect despite a pause in transactions because of the Middle East conflict. (Source: Bloomberg)

Mar 10, 2026 &03301010202631; 14:30 UTC feeds.bloomberg.com Trending 3/5

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Neutral impact

Sentiment score: -15/100

Moderate impact Short-term (days)

WHAT THIS MEANS

Blackstone's Jon Gray warns that UK tax policies are driving entrepreneurs abroad, while expressing confidence in private credit stability and expecting a near-term recovery in M&A activity despite Middle East geopolitical tensions.

AI CONFIDENCE

72% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

⇅

IT→.MI

IT→.MIIndex

High volatility expected

Italian equities sensitive to UK policy shifts and European capital flows; potential outflow of entrepreneurs affects regional investment

↓

Euro Stoxx 50

^STOXX50EIndex

Expected to decline

European blue-chips exposed to UK tax policy headwinds and potential capital reallocation away from UK markets

⇅

Euro / US Dollar

EURUSDCurrency

High volatility expected

UK tax concerns may weaken GBP relative to EUR; geopolitical tensions add currency volatility

↑

S&P 500

^GSPCIndex

Expected to rise

Blackstone's optimism on dealmaking recovery and private credit stability supports US equity sentiment; potential capital inflows to US markets

PRICE HISTORY

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⚡ SUGGESTED ACTION

Monitor UK-listed equities for underperformance; consider long positions in US indices and private credit funds given Blackstone's confidence. Watch for M&A announcement acceleration as geopolitical tensions ease, particularly benefiting financial services and tech sectors.

KEY SIGNALS

UK tax policy driving capital flight concernsPrivate credit market stability reassurance despite recent volatilityM&A recovery expected despite geopolitical headwindsEntrepreneur relocation trend from UKDealmaking momentum anticipated in near-term

SECTORS INVOLVED

Financial ServicesPrivate EquityPrivate CreditTechnologyEntrepreneurship

Analysis generated on Mar 11, 2026 at 01:57 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by Bloomberg Markets. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Blackstone's Gray on UK Policies, Private Credit, Impact of Iran War

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