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00:02Moody's ratings revised the outlook for Blue Owl credit to negative from Stable
00:06after reporting higher-than-peer redemption requests in the first quarter, according to Benzinga.
00:10Blue Owl capped redemptions at 5% after investors requested withdrawals of 22% and 41%
00:16in its private credit and technology-focused funds.
00:19The firm cited market concerns around AI disruption to software companies.
00:23Moody's said elevated redemptions may persist and inflows may slow.
00:26Blue Owl said public discussions about private credit do not match the actual performance
00:31trends in its portfolio, according to a letter to shareholders and reported by CNBC.
00:35The fund was upgraded to BI2 in January, but redemption pressure weakened its position.
00:40Other firms have also capped redemptions, while Oak Tree satisfied all requests.
00:44Policymakers and regulators are monitoring the sector as concerns grow.
00:47For all things money, visit Benzinga.com.
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