Blackstone Limits Withdrawals From $79 Billion Private Credit Fund BCRED
Bloomberg.com • • general
Key Points:
- Blackstone Inc. has limited redemptions from its $79 billion flagship private credit fund for the first time, capping withdrawals at 5%.
- Investors had sought to redeem 10% of shares, but the fund restricted redemptions amid ongoing investor withdrawals from private credit funds.
- Previously, Blackstone allowed full redemptions of the 7.9% of shares requested and even had senior executives contribute personal cash to support those withdrawals.
- This move reflects broader challenges in the private credit market as firms respond to increased investor redemptions.