The Carlyle Group's (NASDAQ:CG) flagship private credit interval fund received a large amount of repurchase requests as turmoil in the private credit sector continues.

The Carlyle Tactical Private Credit Fund (CTAC), which has more than $7 billion in assets, received requests of 15.7%, three times its threshold of 5%, a shareholder letter stated, as reported by the Wall Street Journal.

CTAC leverages Carlyle's Global Credit platform and seeks to provide access to a broad range of private credit strategies. Under normal circumstances, the fund will invest at least 80% of its assets in private fixed income securities and credit instruments, the firm's website states.

"Recent market volatility has led to increased repurchase activity across private credit fund," the shareholder letter stated.

Other asset managers have received redemption requests from private credit funds as investors grow increasingly concerned about the current state of the private credit market.

Barings limited redemptions in its private credit fund, capping withdrawals at 5% of shares. This decision was driven by investor requests to sell 11.3% of the shares in the first quarter, according to a regulatory filing.

Ares Management (NYSE:ARES) announced it would limit withdrawals from its Ares Strategic Income Fund after facing a significant increase in redemption requests. The decision came as the fund saw redemptions rise to 11.6% in the first quarter, prompting the firm to cap outflows at 5%.

Meanwhile, JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS), and BlackRock Inc. (NYSE:BLK) also limited withdrawals or restricted lending in their private credit funds amid market volatility.

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