BlackRock private credit fund redemption requests fall in third quarter

Sept. 11 (Reuters) - Withdrawal requests at asset manager BlackRock's BLK.N flagship private credit fund slowed in the third quarter, according to a regulatory filing on Friday, signaling that redemption pressures across the industry are beginning to ease.

Investors in BlackRock's HPS Corporate Lending Fund sought to pull roughly 11.5% of shares, compared with 13.3% in the prior quarter. It will repurchase 5% of shares or roughly $600 million, the customary threshold for such vehicles.

The latest data adds to signs that private credit may be emerging from a period of heightened redemption pressure from retail investors as asset managers work through their backlog of unfulfilled withdrawal requests.

Blackstone BX.N kicked off the third-quarter redemption season for major U.S. non-traded private credit funds last week. Data from other vehicles is expected throughout September.