Investors asked to redeem 13.3% of the value of assets in BlackRock's (NYSE:BLK) $25 billion private credit fund in Q1, as concerns about credit quality and how borrowers will manage AI-related disruption mount.
HPS Corporate Lending Fund plans to honor 5% of those requests, Reuters reported.
The fund plans to repurchase roughly $620 million of its outstanding shares, according to a regulatory filing, which also pointed to the prospect of higher interest rates as a potential boost to future returns.
BlackRock also provided a preliminary estimate for the $2.2 billion HPS Corporate Capital Solutions Fund, saying redemption requests were about 4.7% of shares.
A separate filing for the $2.7 billion BlackRock Private Credit Fund (BDEBT), showed investors sought to redeem 5.3% of the fund's value for the quarter.
