Redemption requests for two of Blue Owl Capital’s private-credit funds remained well above the typical 5% cap, even as requests on one of the funds fell for the second quarter in a row.
Blue Owl Credit Income Corp. said it saw estimated third-quarter redemption requests representing 16.8% of shares, or $3.1 billion. That compares with 18.8% in the second quarter and 21.9% in the first quarter.
The tech-focused fund, Blue Owl Technology Income Corp., saw estimated redemption requests represent 39% of shares, or $1.1 billion, up from 38.1% in the second quarter but down from 40.4% in the first quarter.
Both the Blue Owl funds said they would redeem only 5% of the redemption requests, the standard across the industry. Last month, Blackstone’s flagship private-credit fund reported redemption requests for about 10% of its shares, or $4.3 billion. Cliffwater’s biggest fund got redemption requests representing around 16% of shares. Both said they would limit payouts to 5%.
Write to Elias Schisgall at [email protected]
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing