Key facts
- Withdrawal requests at BlackRock's HPS Corporate Lending Fund slowed in the third quarter.
- Investors sought to pull roughly 11.5% of shares, down from 13.3% in the prior quarter.
- BlackRock will repurchase 5% of shares, or approximately $600 million, from the fund.
Withdrawal requests at BlackRock's HPS Corporate Lending Fund slowed in the third quarter, according to a regulatory filing. Investors sought to pull roughly 11.5% of shares, a decrease from the 13.3% redemption rate observed in the prior quarter. The fund will repurchase 5% of shares, or approximately $600 million, which is a customary threshold for such vehicles. This easing aligns with wider private credit trends, as other firms like Apollo, Golub Capital, and KKR have also reported moderation in redemption demand across their semi-liquid vehicles. Despite past stress from high redemption volumes and liquidity mismatches, private credit fundamentals remain broadly resilient, buoyed by credit strength, available capital, and institutional investor demand.