BlackRock's $25 Billion Private Credit Fund Hit With Requests To Redeem 13.3% - Apollo Global Management

BlackRock investors seek to redeem 13% of private-credit fund shares in Q2

BlackRock HLEND received 13.3% redemption requests Q2 but caps buybacks at 5%—investors get 38 cents per dollar. Spike across private credit (Blackstone 10%, Cliffwater 17%) signals weakening confidence in software valuations and tighter venture financing constraints.