Blue Owl caps private credit funds redemptions at 5% after steep request levels

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Blue Owl

is experiencing elevated redemption requests for two of its private credit funds, according to letters to shareholders issued Thursday.

The firm’s flagship OCIC fund, with about $36 billion in assets under management, received redemption requests of about 21.9% of shares outstanding during the first quarter, the firm said. Blue Owl’s smaller, tech-oriented fund, OTIC, received redemption requests of 40.7% during the same period, it said.

In both of the funds, Blue Owl opted to cap requests at 5%. Blue Owl attributed the higher-than-usual requests to “heightened market concerns around AI-related disruption to software companies.”