BlackRock’s $26 Billion Private Credit Fund Limits Withdrawals

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BlackRock Inc. curbed withdrawals from one of its biggest private credit funds after client requests for redemptions spiked, the latest sign of retail anxiety about the $1.8 trillion private credit industry. The firm’s $26 billion HPS Corporate Lending Fund, one of the industry’s largest non-traded business development companies, 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

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