BlackRock Blocks $580M in Withdrawal Requests from HPS Corporate Lending Fund

TLDR: BlackRock blocked $580M in withdrawal requests after its HPS fund hit the 5% quarterly redemption cap limit.  The $3 trillion private credit market faces a structural mismatch between investor liquidity needs and long-term loan terms.  Blue Owl and BlackRock both faced heavy withdrawal pressure, pointing to possible tightening across private lending markets. Weakening labor [...]

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