Blackstone Private Credit Fund Sets Redemption Cap at 5%

According to Sina Finance, Blackstone's private credit fund set a redemption cap at 5% after receiving redemption requests equal to about 10% of the fund's size, according to an investor letter attached to a filing with the U.S. Securities and Exchange Commission. The fund estimated third-quarter redemption requests totaled $4.3 billion. It said investors seeking liquidity in the second and third quarters are expected to receive 75% of the redemption amount they requested in about 90 days. The letter said BCRED's capital position remains strong, and loan repayments and inflows have exceeded the scale of share buybacks.