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Redemptions

All articles tagged with #redemptions

Blackstone Clamps Withdrawals as Private Credit Funds Face Outflows
business2 months ago

Blackstone Clamps Withdrawals as Private Credit Funds Face Outflows

Blackstone capped redemptions at its $79 billion BCRED private credit fund in Q2 after redemption requests approached 10% of shares (versus about 7.9% prior quarter), setting a 5% withdrawal limit to replace immediate liquidity with longer-term returns. The move aims to curb forced asset sales amid growing investor retreat from private assets, with analysts noting demand was in line with expectations and Blackstone’s stock rose about 8% on the news. The report also notes slower overall private-credit inflows and ongoing redemption pressure across peer funds like Partners Group.

via HuffPost|
#asset-management#bcred#blackstone
Private-Equity Selloff Deepens as Redemption Caps Roil Markets
business2 months ago

Private-Equity Selloff Deepens as Redemption Caps Roil Markets

Shares in KKR, Blackstone and other private-equity peers fell after Partners Group capped withdrawals from its Global Value SICAV fund, rekindling fears about liquidity and asset quality in private markets; Carlyle and KKR dropped more than 5% and 4% respectively, Blackstone and Ares slid about 4%, and Partners Group tumbled over 16% to a 52-week low as redemption requests neared 10% and the cap was set at 5% of net asset value.

via CNBC|
#business#liquidity#markets
Apollo Trims Withdrawals in Flagship Private Credit Vehicle
business5 months ago

Apollo Trims Withdrawals in Flagship Private Credit Vehicle

Apollo Global Management capped redemptions from its flagship Apollo Debt Solutions BDC after investors sought about $1.6 billion (11.2% of its $15 billion net assets), above the 5% threshold for limiting withdrawals. The firm honoured roughly half of withdrawal requests, joining peers like Morgan Stanley and BlackRock in restricting outflows as investor sentiment cools on semi-liquid private markets. The fund, with about $25 billion in investments, posted roughly flat net flows for the quarter after new commitments and redemptions, and recorded its first monthly loss in February due to a sell-off in more liquid loans.

via Financial Times|
#apollo-global-management#asset-management#business
Apollo’s Private Credit Fund Returns 45% of Requested Withdrawals
business5 months ago

Apollo’s Private Credit Fund Returns 45% of Requested Withdrawals

Apollo Debt Solutions BDC faced Q1 redemption requests totaling 11.2% of shares, well above its 5% quarterly cap, and will prorate payouts to about 45% of the requested amounts (roughly $730 million). NAV fell 1.2% in the quarter but outperformed the US Leveraged Loan Index; software makes up 12.3% of the portfolio. Apollo is maintaining the 5% cap as a value-protection measure, contrasting with rivals like Blackstone that have loosened withdrawal limits.

via CNBC|
#apollo-global-management#bdc#business
Private-credit exits test retail access to illiquid bets
business5 months ago

Private-credit exits test retail access to illiquid bets

Private-credit funds are facing renewed redemption pressure as retail investors pull assets; Blackstone's BCRED will meet 100% of redemptions after a record 7.9% outflow (~$3.8B), while Blue Owl shifts to asset-sale funded payouts for its semi-liquid fund. The episode underscores tension between high yields and retail access to illiquid assets, drawing scrutiny of liquidity features and concerns that the sector's growth could pressure returns if retail inflows persist.

via CNBC|
#blackstone#business#liquidity
Blue Owl’s Redemption Change Sparks Liquidity Alarm for Private Credit
business6 months ago

Blue Owl’s Redemption Change Sparks Liquidity Alarm for Private Credit

Blue Owl Capital said it would stop offering a fixed quarterly redemption amount for one fund and instead determine payouts, accelerating returns; it also disclosed a $1.4 billion loan sale with about $600 million to be returned to investors, a move that triggered a stock slide and raised concerns about liquidity and risk in the private-credit industry as peers slipped and analysts warned of potential hidden vulnerabilities outside traditional banking.

via The New York Times|
#blue-owl-capital#business#market-reaction
USDC Stablecoin Burnt and Bitcoin, Ether Rally Amid Banking Industry Turmoil.
cryptocurrency3 years ago

USDC Stablecoin Burnt and Bitcoin, Ether Rally Amid Banking Industry Turmoil.

Over $2.2 billion worth of USD coin (USDC) was burnt in a single day as redemptions crossed $4 billion on Tuesday night. The burns refer to effectively taking tokens out of circulating supply by sending them to an address that’s not controlled by any entity. The USDC burns followed a likely reduction in reserve backing or redemptions. The dollar-pegged stablecoin has failed to win back investors following last week’s depegging.

via CoinDesk|
#circulating-supply#cryptocurrency#depegging