🚨 SOMETHING BIG JUST HAPPENED
BlackRock, the world’s largest asset manager, just BLOCKED withdrawals.
Investors tried to pull $1.2 BILLION from its $26B private credit fund.
BlackRock said NO and capped withdrawals at 5%.
Nearly HALF the investors who wanted out were denied their money.
At the same time, Blackstone faced record withdrawals and had to inject $400M of its own cash.
When the BIGGEST funds on Earth start limiting withdrawals, it is a MAJOR WARNING sign for the entire $1.8 TRILLION private credit market