BlackRock has limited withdrawals from its $26bn HPS Corporate Lending Fund after an increase in redemption requests, according to a report by Bloomberg.
The non-traded business development company received requests to redeem 9.3% of its shares but restricted repurchases to 5%, according to a statement on Friday. Based on year-end figures, investors will receive about $620m rather than the roughly $1.2bn that would have been redeemed if all requests had been met.
BlackRock said the liquidity man...
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