Blackstone Caps $79 Billion BCRED Withdrawals at 5% as Redemption Requests Hit $4.5 Billion
Updated
Updated · CNBC · Jun 4
Blackstone Caps $79 Billion BCRED Withdrawals at 5% as Redemption Requests Hit $4.5 Billion
3 articles · Updated · CNBC · Jun 4
Summary
$4.5 billion in second-quarter redemption requests pushed Blackstone to restrict withdrawals from its flagship BCRED private credit fund.
The asset manager capped investor withdrawals at 5% of shares after requests reached 10%, triggering limits at the $79 billion non-traded business development company.
Blackstone shares still rose 1.6% in premarket trading Thursday, suggesting investors saw the gate as manageable despite the surge in withdrawal demand.
The move highlights growing liquidity pressure in large non-traded private credit vehicles, where investor exits can outpace the cash immediately available for redemptions.