A credit fund with a size of $33 billion faces over 7% redemption.

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Gelonghui March 11 | According to foreign media citing sources, Cliffwater, an alternative investment advisor and fund management company, may receive redemption requests exceeding 7%. Cliffwater’s private credit fund manages approximately $33 billion in assets and is a interval fund. According to sources, the company has not yet decided whether to impose restrictions when redemptions reach 5% or 7%. The fund’s redemption window will close on Tuesday. Cliffwater is the latest private credit firm to face investor withdrawals. The industry, valued at $1.8 trillion, has seen investors pulling out due to concerns over loan quality and exposure to software companies potentially impacted by artificial intelligence. Recently, Blackstone and BlackRock were forced to limit redemptions, revealing liquidity issues in the US and UK private credit markets.

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