Investors in the private credit market are seeking to get out and the fund managers are putting limits on withdrawals, effectively holding them hostage. These are pools of investor funds that make loans (software, AI and data centers are the latest big thing?), it seems many participants want out of those to do something else with their capital.
BlackRock's $26 billion HPS Corporate Lending Fund, one of the industry’s largest non-traded business development companies, and not to be confused with the BlackRock TCP Capital Corp which just repriced one of its loans from 100 to 0, said shareholders requested 9.3% of their shares, but management decided to cap the repurchase at 5%, the company said in a statement on Friday. The total amount of shares would have been around $1.2 billion, according to Bloomberg calculations.
Private Credit Firesale Begins: World's Largest Asset Manager Gates Investors In $26 Billion Fund<!-- --> | ZeroHedge
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