Blackstone Caps Redemptions From Private Credit Fund at 5%
Blackstone limited investor withdrawals from its flagship private credit fund to 5% after redemption requests reached roughly 10% of assets in the second quarter. The firm said it remains well capitalized with new inflows equal to about 2% of net asset value.
Financial TimesBlackstone capped investor redemptions from its flagship private credit fund at 5% after buyback requests reached roughly 10% of assets during the second quarter. The firm stated it remains well capitalized and reported capital inflows equal to about 2% of net asset value.
Blackstone's action aligns with similar steps taken by other private credit managers facing elevated redemption activity. The fund joins peers that have also gated investor access after redemption volumes increased sharply in recent months.
Blackstone said the fund continues to receive new capital commitments despite the redemption wave. Inflows during the period equaled roughly 2% of the fund's net asset value. The company emphasized that available liquidity remains sufficient to meet operational needs.
“Blackstone caps withdrawals from flagship private credit fund. Redemption requests surged to $4.5bn in second quarter amid mounting fears in sector.”
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