Breaking: 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 exitsTwo of the biggest funds on the planet are limiting how much you can take out.
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