Blackstone (BX) is considering abandoning plans to raise around $3 billion of debt to return some cash to investors, Bloomberg reported Wednesday, citing people familiar with the matter.

The firm has struggled to find a buyer for the equity portion of the deal, which is typically the riskiest part, Bloomberg reported. The financing is tied to one of Blackstone's older secondaries funds, which has about 700 underlying investments, the report said.

Blackstone is still considering whether to complete the deal or use another way to return cash to investors, Bloomberg reported.

The firm has indicated it could hold the entire equity portion itself, while Jefferies Financial Group is advising on the deal, code-named Project Eclipse, the report said.

Blackstone did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 145.74, Change: -1.43, Percent Change: -0.97