Blue Owl Reports 38% Withdrawal Requests From Private Credit Fund as Redemption Queues Persist
Updated
Updated · The New York Times · Jul 2
Blue Owl Reports 38% Withdrawal Requests From Private Credit Fund as Redemption Queues Persist
3 articles · Updated · The New York Times · Jul 2
Summary
Blue Owl said investors sought to withdraw as much as 38% from one software-and-technology private credit fund, while another larger fund drew requests equal to 19% of assets.
Those levels were only slightly below the prior quarter's 41% and 22%, showing months of outreach by executives had failed to calm concerns about private credit loan quality.
Blue Owl, Apollo and Blackstone have all been limiting redemptions to 5% per quarter, leaving investors stuck in a growing queue to get cash back.
Blue Owl's listed credit vehicles already capped withdrawals for a second straight quarter after $3.6 billion of redemption requests at Blue Owl Credit Income Corp., underscoring how stress has spread across the sector.