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Simply sign up to the Private equity myFT Digest — delivered directly to your inbox.<\/span><\/p>\n Blackstone\u2019s flagship private credit fund was hit with $1.7bn of net outflows over the past month, as an exodus from the asset class gathered pace since the start of the year. <\/p>\n Redemption requests from the $82bn Blackstone private credit fund, known as Bcred, rose to 7.9 per cent of its assets in the first quarter, eclipsing a 5 per cent threshold that allows the private investment group to limit payouts to withdrawing investors.<\/p>\n The withdrawals will be closely watched across the $2tn private credit industry as an early sign of the flight retail investors are taking from the asset class.<\/p>\n Blackstone paid out the redemptions in full after the firm and its employees invested $400mn to help cover the requests, which it said further aligned the company with shareholders of the fund. The New York-headquartered group said it drew in nearly $2bn of new commitments from investors in the quarter but suffered roughly $3.7bn of redemption requests.<\/p>\n \u201cOur conviction in BCRED is grounded in its strong portfolio and track record,\u201d the firm said in a disclosure with the US securities regulator. It noted that it honoured all redemption requests in the period.<\/p>\n","protected":false},"excerpt":{"rendered":" Stay informed with free updates Simply sign up to the Private equity myFT Digest — delivered directly to your inbox. Blackstone\u2019s flagship private credit fund was hit with $1.7bn of net outflows over the past month, as an exodus from the asset class gathered pace since the start of the year. Redemption requests from the<\/p>\n","protected":false},"author":1,"featured_media":45644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[22640,2575,11737,1051,70,1877,23471,5123],"class_list":{"0":"post-45643","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-blackstone","9":"tag-credit","10":"tag-flagship","11":"tag-fund","12":"tag-hit","13":"tag-private","14":"tag-redemptions","15":"tag-wave"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/45643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45643"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/45643\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/45644"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}