Anonymous9 days ago
Blackstone Private Credit Fund (BCRED), the world's largest private credit vehicle with roughly $80 billion in assets, capped investor withdrawals for the first time in June 2026 after redemption requests hit 10% of outstanding shares — double the 5% quarterly limit. The gating is part of a sector-wide crisis: every major semi-liquid private credit fund, from Apollo to Blue Owl, has hit or exceeded redemption caps in 2026, exposing a structural mismatch between illiquid loans and the liquid-seeming wrappers sold to retail and high-net-worth investors.