More Private Credit Gates Coming Down
“…Investors in BlackRock’s flagship private-credit fund asked to redeem a collective 13.3% of the fund’s shares in the second quarter, an increase from 9.3% in the previous period.
BlackRock will repurchase 5% of the shares, it said in a letter Friday,….
….Earlier this month, Blackstone said investors in its fund, known as Bcred, asked to redeem 10% of their shares in the second quarter and Cliffwater said its investors requested to redeem 17% of the shares in its $31 billion fund….”