Blackstone Private Credit Fund Hit by Record Redemptions (4)

Blackstone Inc. is allowing investors to redeem a record 7.9% of shares from its flagship private credit fund, the latest sign of unease in an industry that’s faced a wave of withdrawals.

The firm is meeting the requests, which are equivalent to around $3.8 billion, by increasing the size of a previously announced tender offer to 7% of the fund’s total shares and by stepping in, alongside employees, to offset the remaining 0.9%, according to a filing and a spokesperson. The fund has around $82 billion of total assets, including leverage, the filing shows.

“These investments were about meeting 100% ...