BlackRock private credit fund redemptions drop to 11.5% in third quarter
Redemption requests for BlackRock's $23.1 billion HPS Corporate Lending Fund fell to 11.5% last quarter, a decline from 13.3% previously and the lowest level in over a year.
Investor demand for BlackRock's HPS Corporate Lending Fund has decreased as withdrawal requests dropped significantly in the third quarter. Regulatory filings on Friday show investors sought to withdraw about 11.5% of their shares, compared to 13.3% in the previous three months. This represents a notable shift from the intense outflows seen earlier in the year, where wealthy investors pulled back due to concerns regarding lending standards and artificial intelligence risks. The fund plans to repurchase 5% of shares to meet customary thresholds. Evercore analyst Glenn Schorr stated the redemption backlog is clearing and expects sentiment in the wealth channel to improve. He predicted BlackRock stock would trade positively based on these figures.
