BlackRock on Friday disclosed withdrawal requests during the third quarter across four of its private credit funds. HPS Corporate Lending Fund received repurchase requests totaling about 11.5% of shares outstanding during Q3, down from roughly 13.3% in the second quarter, and is set to repurchase 5.0% of shares outstanding as of June 30, or about $600M. At BlackRock Private Credit Fund, about 3,193,088 shares of common stock, or roughly 4.58%, were validly tendered under a tender offer for up to 5% of shares outstanding that expired on September 4. BlackRock Private Investments Fund estimates about 175,858 shares, or 0.51% of shares outstanding as of June 30, were validly tendered under a tender offer for up to 5% that expired on August 31. HPS Corporate Capital Solutions Fund estimates about 1.9% of shares outstanding, or 946,847 shares, were validly tendered as of June 30 under a tender offer for up to 5% of shares outstanding that expired on September 4.
BlackRock IncBlackRock disclosed elevated Q3 redemption/repurchase requests across four private credit funds, signaling investor withdrawals from its funds.
