🪨 BlackRock has restricted withdrawals from its private credit fund HPS Corporate Lending Fund with a volume of $26 billion (this is one of their flagship funds):
⚫Investors requested withdrawals of about $1.2 billion (approximately 9.3% of the fund's NAV) for the first quarter, while the fund approved and paid out only $620 million (exactly 5% of the assets), applying the standard limit on redemptions, after which further withdrawals are limited until better times.
⚫Recently, BlackRock wrote down a loan of ~$25 million to Infinite Commerce Holdings (an Amazon aggregator) - just 3 months after being valued at 100 cents on the dollar. There were similar full write-offs previously (Renovo Home Partners - bankruptcy at the end of 2025, and other cases with e-commerce and home improvement companies).
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⚫Investors requested withdrawals of about $1.2 billion (approximately 9.3% of the fund's NAV) for the first quarter, while the fund approved and paid out only $620 million (exactly 5% of the assets), applying the standard limit on redemptions, after which further withdrawals are limited until better times.
⚫Recently, BlackRock wrote down a loan of ~$25 million to Infinite Commerce Holdings (an Amazon aggregator) - just 3 months after being valued at 100 cents on the dollar. There were similar full write-offs previously (Renovo Home Partners - bankruptcy at the end of 2025, and other cases with e-commerce and home improvement companies).
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