UPDATE 1-Blackstone caps withdrawals at flagship private credit fund as redemption requests hit 10%

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June 4 (Reuters) - Blackstone BX.N has capped withdrawals at its ​flagship private credit fund as redemption requests rose in the second quarter, according to a regulatory filing on Thursday, becoming the latest asset manager to do so.

Investors in Blackstone Private Credit Fund sought to pull 10% of outstanding shares in the second-quarter tender offer. The fund will fulfill repurchase requests representing 5% of shares outstanding.

"Repurchase activity decelerated in the back half of the offer period, with onshore volumes below prior quarter levels," the fund said in a shareholder letter.




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