Private Credit Funds Hit by Redemption Wave, Liquidity Fears
Redemption requests spiked at major private credit funds in Q2 2026, with Blackstone’s $45 billion BCRED reaching its 5% quarterly cap for the first time. The pressure, also seen at Apollo and others, has hit investor confidence and slashed new fundraising.
Redemption requests surged across major private credit funds during the second quarter of 2026, exposing underlying liquidity risks within the sector. Blackstone’s $45 billion BCRED fund hit its 5% quarterly redemption cap for the first time after investors sought to withdraw roughly 10% of assets.
Similar pressures emerged at Apollo, Cliffwater, HPS, and Monroe, driven by concerns over potential losses on loans extended to highly leveraged technology companies.
The wave of withdrawal requests has dented investor confidence, with BCRED’s new fundraising falling nearly 70% year-on-year in Q2, underscoring growing unease over the liquidity of private credit investments.
Source: First Squawk