Blackstone Inc. (NYSE:BX) shares are trading lower Wednesday, along with other stocks in the private credit sector, after Partners Group capped private equity fund withdrawals.
- Blackstone stock is taking a hit today. Why is BX stock falling?
Partners Group Caps Fund Withdrawals
According to CNBC, Partners Group moved to restrict investor redemptions in its Global Value SICAV fund, an $8.6 billion evergreen private equity vehicle, at 5% of net asset value after redemption requests reached 9.8%.
The fund represents approximately 4.8% of Partners Group’s total asset base, according to the report.
Partners Group shares fell sharply Wednesday, reaching a 52-week low. CEO David Layton told Bloomberg that redemption pressure previously seen in private credit is now spreading to other asset classes.
The report noted that the move follows similar actions taken by several U.S. private equity firms in recent months, with some firms halting or restricting investor withdrawals.
Blackstone Shares Tumble
Price Action: At the time of publication, Blackstone shares are trading 3.86% lower at $110.47, according to data from Benzinga Pro.
Other private market firms were also lower Wednesday. Early trading showed KKR & Co Inc. (NYSE:KKR) down 4.04% at $90.63, Ares Management Corporation (NYSE:ARES) down nearly 4.82% at $122.10 and Blue Owl Capital Inc. (NYSE:OWL) down 4.37% at $9.63.
This illustration was generated using artificial intelligence via Midjourney.
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