Blackstone restricts flagship fund withdrawals as private asset fears reemerge
Blackstone has imposed a 5% cap on withdrawals from its Blackstone Private Credit (BCRED) fund due to a surge in redemption requests, which reached 10% (approximately $4.5 billion) in the second quarter. The fund, valued at $79 billion, is facing heightened demand for withdrawals, prompting this restriction. After the announcement, Blackstone's shares increased by 1.6% in premarket trading.
Blackstone is restricting withdrawals from its flagship Blackstone Private Credit (BCRED) fund following a spike in investor redemption requests.
The asset management giant capped investor withdrawals from the $79 billion non-traded business development company at 5% of shares, after redemption requests hit 10%, or about $4.5 billion, during the second quarter.
Shares in Blackstone were up 1.6% in premarket trade Thursday.
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