Key Points
- Redemption requests surged to $4.5bn in second quarter amid mounting fears in sector S1
- Shares of the biggest alternative asset managers tumbled Wednesday after Cliffwater LLC’s flagship private credit fund reported even larger redemption requests than in the first quarter, setting off a new wave of fears about the industry. S2
- Fund with net assets of $31bn aimed at retail investors limits withdrawals in latest sign of exodus from sector S3
- Cliffwater LLC’s flagship private credit fund capped redemptions at 5% in the second quarter after investors looked to pull about 17% of shares, in a sign of enduring pressure on the $1.8 trillion market. S4
Related live story