BlackRock Limits Withdrawals from $26 Billion Private Credit Fund Amid Rising Redemptions

BlackRock has limited withdrawals from its $26 billion HPS Corporate Lending Fund (HLEND) after investor redemption requests surged to 9.3%, exceeding the typical 5% cap. The fund will repurchase about half of requested shares, totaling approximately $620 million. BlackRock described this gating as a standard liquidity management feature to align investor capital with loan durations. The move reflects broader industry concerns amid rising investor anxiety, geopolitical tensions, and economic uncertainties affecting private credit funds.