Three of Wall Street’s biggest private credit managers have faced record withdrawal pressure in the span of a month.
The latest is BlackRock Inc (NYSE:BLK), which fell 6% Friday morning after capping redemptions from its Corporate Lending Fund.
The fund received $1.2 billion in withdrawal requests in the first quarter, roughly 9.3% of net asset value. It paid out $620 million and blocked the rest.
Who Else Is Under Pressure
Blackstone Inc (NYSE:BX) lifted its usual 5% redemption cap to 7% earlier this week after its $82 billion BCRED fund saw record 7.9% withdrawal requests.
Blue Owl Capital Inc (NYSE:OWL) permanently halted quarterly redemptions last month and is liquidating $1.4 billion in assets.
Apollo Global Management Inc (NYSE:APO), KKR & Co Inc (NYSE:KKR) and Ares Management Corp (NYSE:ARES) …
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