(MENAFN- Trend News Agency)
Blackstone Inc said redemptions from its $50 billion non-traded
business development company reached its pre-set limit for the
first time but investors were still allowed to cash out on their
investments, trend reports with reference to reuters .
This is the first time redemption requests had reached the
pre-set limit of 5% since Blackstone launched the product in
January last year. It also comes after Blackstone announced last
Thursday that it would curb withdrawals from its $69 billion
unlisted real estate income trust (REIT) following a surge in
Blackstone Private Credit Fund (BCRED) received withdrawal
requests from its investors that were about 5% of the fund's
outstanding shares in the fourth quarter that ended on Nov. 30,
according to a regulatory filing.
Blackstone said all redemption requests made to BCRED will be
honored and that the fund has $8 billion of immediate
'BCRED is well positioned with 100% floating rate and 94% senior
secured loans and zero payment defaults,' a Blackstone spokesperson
said in a statement.
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