Investors in the interval fund reportedly sought to redeem 14% of shares in Q1 as the private credit market continues to face headwinds.
The $25 billion HPS Corporate Lending Fund has once again limited withdrawals after repurchase requests hit ~11.5% of outstanding shares.
Shareholders submitted an estimated $4.3 billion of Q3 repurchase requests, representing around 10% of shares outstanding, as of June.
The firm also provided updates on its private equity evergreen fund and non-traded BDC, as well as plans to launch new products targeting the wealth segment.
Investors reportedly sought to withdraw 17% of shares in the Cliffwater Corporate Lending Fund, prompting another 5% cap.
Anchored by three institutional LPs, the fund offers exposure to private asset-backed finance and traded structured credit opportunities.
The announcement comes as investors in Blue Owl's non-traded BDC shunned an earlier Saba and Cox Capital joint-offer to repurchase shares at a steep discount.
The $532 million fund has capped Q2 withdrawals at 5% after repurchase requests reached 7.22% of NAV.
Carlyle Tactical Private Credit Fund has capped Q1 repurchases at 5% after being hit with 15.7% in redemption requests.
The secondary sale reportedly involves loan positions tied to one of the firm's interval funds.
