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