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“Investor withdrawal requests from large private credit funds has surged +$4.3 billion QoQ, or +56%, to $12 billion so far in Q2 2026.”
@KobeissiLetter · The Kobeissi Letter
BlackRock's HPS private credit unit faces surging redemptions, eroding the growth story BLK paid a premium to acquire and weighing on the stock.
BLKSHORT@ $1,028.09
$1,109.77-7.95%
since call Jun 19
peak +2.1%
“The Blackstone Private Credit Fund's redemption increase of +$720 million, to $4.5 billion.”
@KobeissiLetter · The Kobeissi Letter
Blackstone's private credit fund faces $4.5B in redemption requests; AUM shrinkage will compress fee revenue and pressure BX lower.
BXSHORT@ $121.51
$126.53-4.13%
since call Jun 19
peak +0.7%
“New sales of business development companies (BDCs), the primary vehicle for retail private credit investing, dropped -74% YoY in April, to just $1.6 billion, th”
@KobeissiLetter · The Kobeissi Letter
BDC new sales collapsed -74% YoY as retail confidence evaporates; ARCC, the largest BDC, faces a dual hit from inflow drought and redemption pressure.
ARCCSHORT@ $18.37
$18.40-0.16%
since call Jun 19
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