Blackstone is restricting withdrawals from its flagship Blackstone Private Credit (BCRED) fund following a spike in investor redemption requests.The asset management giant capped investor withdrawals from the $79 billion non-traded business development company at 5% of shares, after redemption requests hit 10%, or about $4.5 billion, during the second quarter.Shares in Blackstone were up 1.6% in premarket trade Thursday.This is breaking news. Please refresh for updates.
Blackstone restricts flagship fund withdrawals as private asset fears reemerge
Blackstone is restricting withdrawals from its flagship Blackstone Private Credit (BCRED) fund following a spike in investor redemption requests.The asset management giant capped investor withdrawals from the $79 billion non-traded business development company at 5% of shares, after redemption requests hit 10%, or about $4.5 billion, during the second quarter.Shares in Blackstone were up 1.6% in premarket trade Thursday.This is breaking news. Please refresh for updates.
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