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Blackstone’s flagship private credit fund restricts investor redemptions for the first time, joining the ranks of restricted redemption funds

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ME News Report, June 4th (UTC+8), Blackstone Group (BX.N)'s flagship private credit fund has implemented restrictions on redemptions for the first time after investors sought to redeem 10% of their shares, becoming the latest fund to tighten redemption limits amid a wave of investor withdrawals. According to documents filed on Thursday, the $79 billion Blackstone private credit fund has informed shareholders that only redemption requests for 5% of shares will be fulfilled. In the previous quarter, the fund allowed investors to redeem a record 7.9% of shares with the help of senior management using their own funds. Jim Zelt, Co-President of Apollo Global Management, stated that after previous redemption restrictions, investors are increasing efforts to withdraw funds, which could lead to more "turmoil" in the non-traded BDC (Business Development Company) sector. (Jin10) (Source: ODAILY)
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