The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Stephen Gandel

NEW YORK, July 6 (Reuters Breakingviews) - Retail backers fleeing from a $300 bln complex of illiquid loan vehicles are hitting limits on withdrawals. Vulture funds offering to buy them out at a discount have a way to set a reasonable price. The wrinkle is that those who don’t take the money would benefit if others do.

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CONTEXT NEWS

On July 2, Blue Owl Capital reported that investors asked to withdraw funds equivalent to 19% of net asset value from Blue Owl Credit Income, a non-traded business development company, in the most recent quarter. The firm will limit redemptions to 5%.