BlackRock Stock Sinks After It Caps Withdrawals From Private Credit Fund -- WSJ

Dow Jones03-06 23:45

By Jack Pitcher

BlackRock shares tumbled after the asset manager limited withdrawals from one of its flagship private credit funds for the first time.

The HPS Corporate Lending Fund, a non-traded business development company marketed to individuals, said it will not repurchase shares beyond the promised 5% liquidity threshold it offers each quarter, after receiving investor requests to redeem more than 5% of total shares for the first time.

The fund, known by ticker HLEND, received requests to redeem 9.3% of shares in the most recent quarter, according to a letter sent to investors on Friday.

The fund has generated a 10.7% annualized return net of fees since its inception four years ago.

"HLEND's intentionally designed liquidity framework, specifically the recurring 5% quarterly share repurchase feature, is foundational to enabling these return outcomes," the letter said. "Without it, there would be a structural mismatch between investor capital and the expected duration of the private credit loans in which HLEND invests."

BlackRock shares were down around 5% in morning trading.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 06, 2026 10:45 ET (15:45 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 06, 2026 10:45 ET (15:45 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BlackRock Stock Sinks After It Caps Withdrawals From Private Credit Fund -- WSJ</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBlackRock Stock Sinks After It Caps Withdrawals From Private Credit Fund -- WSJ\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-06 23:45</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n       By Jack Pitcher \n</p>\n<p>\n     BlackRock shares tumbled after the asset manager limited withdrawals from one of its flagship private credit funds for the first time. \n</p>\n<p>\n     The HPS Corporate Lending Fund, a non-traded business development company marketed to individuals, said it will not repurchase shares beyond the promised 5% liquidity threshold it offers each quarter, after receiving investor requests to redeem more than 5% of total shares for the first time. \n</p>\n<p>\n     The fund, known by ticker HLEND, received requests to redeem 9.3% of shares in the most recent quarter, according to a letter sent to investors on Friday. \n</p>\n<p>\n     The fund has generated a 10.7% annualized return net of fees since its inception four years ago. \n</p>\n<p>\n     \"HLEND's intentionally designed liquidity framework, specifically the recurring 5% quarterly share repurchase feature, is foundational to enabling these return outcomes,\" the letter said. \"Without it, there would be a structural mismatch between investor capital and the expected duration of the private credit loans in which HLEND invests.\" \n</p>\n<p>\n     BlackRock shares were down around 5% in morning trading. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 06, 2026 10:45 ET (15:45 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0731783394.SGD","symbol_name":"Fidelity Global Dividend A-MINCOME(G)-SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2617863979","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2617863979","pubTimestamp":1772811900,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"BlackRock shares tumbled after the asset manager limited withdrawals from one of its flagship private credit funds for the first time.The HPS Corporate Lending Fund, a non-traded business development company marketed to individuals, said it will not repurchase shares beyond the promised 5% liquidity threshold it offers each quarter, after receiving investor requests to redeem more than 5% of total shares for the first time.The fund, known by ticker HLEND, received requests to redeem 9.3% of shares in the most recent quarter, according to a letter sent to investors on Friday.The fund has generated a 10.7% annualized return net of fees since its inception four years ago.\"HLEND's intentionally designed liquidity framework, specifically the recurring 5% quarterly share repurchase feature, is foundational to enabling these return outcomes,\" the letter said. \"Without it, there would be a structural mismatch between investor capital and the expected duration of the private credit loans in whi","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0731783394.SGD":"Fidelity Global Dividend A-MINCOME(G)-SGD","IE00B42XCP33.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) INC","BK4535":"淡马锡持仓","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4504":"桥水持仓","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4135":"资产管理与托管银行","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0772969993.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) ACC","BK4588":"碎股","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU1481011671.HKD":"FIDELITY GLOBAL DIVIDEND \"A\" (HKDHDG) INC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU1989771016.USD":"东方汇理环球老龄化投资基金 A2 Acc","LU1291159041.SGD":"CPR Invest - 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