BlackRock (BLK) limits withdrawals at private credit fund as redemptions mount, Reuters reports
Importance
Level 1
- BlackRock's USD 26bln HPS Corporate Lending Fund received withdrawal requests worth USD 1.2bln in the Q1, or roughly 9.3% of its net asset value.
- HPS told investors it would pay out USD 620mln as part of the quarterly redemption, hitting a 5% threshold that allows the asset manager to restrict further outflows
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