NEW YORK, July 23 (Reuters) – Investor requests to withdraw from Blackstone’s flagship private credit fund have fallen at the beginning of the third quarter after a period of higher demand to redeem, the world’s largest alternative asset manager’s president said on Thursday.
“It’s early in the quarter but the redemptions in BCRED are down materially, which is positive,” Jon Gray told analysts on a conference call, referring to the Blackstone Private Credit Fund which has around $80 billion in assets.
Investors asked to pull 10% of shares in the second quarter, ‌compared with 7.9% in the previous quarter. Blackstone agreed to buy back 5%, the customary threshold for this kind of vehicle.
(Reporting by Isla Binnie and Arasu Kannagi Basil; Editing by Chizu Nomiyama )
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