Blackstone Inc. limited redemptions from its flagship private credit fund for the first time after investors sought to pull 10% of the shares, the latest firm to cap withdrawals amid a continued investor exodus.
The $79 billion Blackstone Private Credit Fund told shareholders that it would allow redemptions of only 5%, according to a filing Thursday. That’s in contrast to the previous quarter, when BCRED, the biggest fund of its kind, went to unusual lengths to allow investors to pull all of the 7.9% of shares requested. Senior executives were tapped to help finance the withdrawals with their own cash ...
