“BlackRock Restricts Withdrawals Amid Redemption Surge”

[madmax]

BlackRock has capped investor withdrawals from its $26 billion HPS Corporate Lending Fund following an unprecedented surge in redemption requests. Investors sought roughly $1.2 billion in withdrawals this quarter—around 9.3% of the fund’s net asset value—far exceeding the fund’s 5% quarterly withdrawal limit. The firm is processing about $620 million while delaying the remainder.

Private credit funds like this one invest in corporate loans that rarely trade on open markets. Withdrawal limits, or “gates,” help prevent a mismatch between investors’ demands and the fund’s liquidity. BlackRock’s move follows similar actions by other firms in the private credit space, including Blue Owl and Blackstone, as investors reassess credit quality and returns.

[cryptohog]

me watching $1.2B in withdrawal requests get capped:
me also realizing half of us investors are now officially on a forced savings plan lol

[JanEmil]

The used the funds. You can enter only. Not leave