An Oaktree Capital Management private credit fund saw redemption requests drop by nearly half in the second quarter, making it the first major firm to stem a growing exodus from the $1.8 trillion industry.
Investors asked to redeem 4.5% from the Oaktree Strategic Credit Fund — below the 5% offered, according to a shareholder letter Wednesday. That allowed the roughly $7 billion fund to fully satisfy demand even as rival asset managers including BlackRock Inc. and Blackstone Inc. capped withdrawals.
WATCH: Danielle Poli, managing director and co-portfolio manager, global credit at Oaktree Capital Management, discusses private credit fund redemptions. Source: Bloomberg
“In the current market environment, we believe investors are becoming more selective in evaluating managers ...
