The alternative asset manager capped withdrawals from its $79 billion Blackstone Private Credit Fund (BCRED) at 5% of outstanding shares after investors sought to redeem about 10% of shares during the second quarter.
The development comes amid broader pressure on private market firms. Shares of several listed private-market managers declined on Wednesday, June 3, after Swiss investment firm Partners Group disclosed that it had restricted redemptions in one of its European private equity funds.
On Thursday, Partners Group said it may impose similar limits across additional funds if needed, noting that elevated redemption activity is no longer confined to private credit and is increasingly being seen in private equity strategies as well.
The recent measures have intensified investor scrutiny of liquidity management practices within private market vehicles, where fund structures often limit the pace of investor exits during periods of heightened redemption demand.
Despite the concerns, Blackstone shares were trading 1.6% higher in premarket activity on Thursday.
(Edited by : Ajay Vaishnav)
