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00:03Investors in Blackstone's flagship private credit fund, known as Bacred, asked to redeem 10% of
00:08their shares in the second quarter, up from 8% in the first quarter, according to the Wall Street
00:13Journal. The request totaled $4.4 billion. Blackstone capped withdrawals at 5%, amounting
00:20to about $2.2 billion, reversing its first quarter strategy of paying the full amount requested.
00:25The fund, which peaked at $82 billion at the end of 2025, received about $1 billion in
00:32inflows during the second quarter. Redemption pressure has spread across the industry,
00:36with Partners Group and Cliffwater also reporting double-digit withdrawal requests.
00:41Blackstone shares rose 7% Thursday, but remain down 20% this year. Rivals Blue Owl and Aries
00:47Management both rose more than 4.5%. For all things money, visit Benzinga.com.
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