Blue Owl Capital Sees Easing Private Credit Redemptions
Blue Owl Capital reported a decrease in third-quarter withdrawal requests for its private credit funds as liquidity stress eased in the United States.
Withdrawal requests at Blue Owl Capital flagship non-traded private credit funds decreased in the third quarter, with investors seeking to withdraw $4.2 billion, down from $4.7 billion in the second quarter. While redemption pressure eased for the $35.1 billion Blue Owl Credit Income Corp., the technology-focused Blue Owl Technology Income Corp. experienced a rise in requests to 39% of shares.
Similar trends occurred at Goldman Sachs Private Wealth Management, where redemption requests for the GS Credit fund fell to 2% of shares. Despite the general easing in the U.S. market, Blue Owl executives warned that refinancing risks may increase as loans mature toward 2028, though software portfolio performance remains stable.
In contrast, liquidity stress intensified in Australia. Metrics Credit Partners Pty Ltd froze redemptions in several unlisted funds after KPMG refused to sign off on annual accounts. The auditing firm cited disagreements over the valuation of commercial real-estate equity investments as the reason for withholding its approval.
