BlackRock just froze $1.2 billion in withdrawal requests at its private credit fund.

[noumoe]

BlackRock just froze $1.2 billion in withdrawal requests at its private credit fund.

Here's what happened:
• Investors in BlackRock's $26B fund asked to pull out 9.3% of their money
• BlackRock said no — capped withdrawals at 5%
• Blackstone's $82B fund saw record withdrawal requests the same week
• Blackstone had to put in $400M of its own cash to cover the exits

Two of the biggest funds on the planet are limiting how much you can take out.