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Blue Owl has been struck by $4.7 billion in redemption requests from investors seeking to withdraw their capital.
The pressure is not limited to one firm: the Financial Times tracked withdrawal requests at 20 private credit funds and found the total surpassed $22 billion in the second quarter, marking a broad-based retreat from an asset class that has expanded sharply in recent years.
What Private Credit Funds Are — and Why Redemptions Hurt Private credit funds lend directly to companies, cutting out traditional banks.
Investors hand over capital — often for years at a stretch — in exchange for yields that tend to run above what publicly traded bonds offer.
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