Blackstone caps withdrawals at flagship private credit fund as redemption requests hit 10pc

Blackstone has capped withdrawals at its flagship private credit fund as redemption requests rose in the second quarter, according to a regulatory filing on Thursday, becoming the latest asset manager to do so.

Investors in Blackstone Private Credit Fund sought to pull 10 percent of outstanding shares in the second-quarter tender offer. The fund will fulfill repurchase requests representing 5 percent of shares outstanding.

“Repurchase activity decelerated in the back half of the offer period, with onshore volumes below prior quarter levels,” the fund said in a shareholder letter.

Reuters

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