Blackstone Limits Redemptions on $79 Billion Credit Fund Amid Investor Withdrawals

Blackstone Group's flagship private credit fund has imposed restrictions on redemption requests after investors sought to withdraw 10% of their shares. According to Odaily, this marks the first time the fund has limited redemptions, joining other funds tightening withdrawal limits amid ongoing investor outflows. Documents filed on Thursday reveal that the $79 billion Blackstone Private Credit Fund has informed shareholders it will only fulfill redemption requests for 5% of shares. In the previous quarter, the fund allowed investors to redeem a record 7.9% of shares, aided by executives using personal funds to assist with financing. Jim Zelter, Co-President of Apollo Global Management, noted that following previous redemption restrictions, investors are intensifying efforts to reclaim funds, potentially leading to more "turmoil" in the non-traded Business Development Company (BDC) sector.