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-0.00117164616285879 -0.00292911540714688 -0.000585823081429292 0 0.00410076157000587 0.00410076157000587 0.00410076157000587 0.00410076157000587
Stock impact report

Shadow bank hit with £4bn redemption as financial crisis fears grow [Yahoo! Finance]

Blue Owl Capital Inc. Class A (OWL) 
Company Research Source: Yahoo! Finance
Blue Owl Capital said on Thursday it would block some redemptions from two major funds after it was swamped by demands from its financial backers to withdraw their cash. The private credit firm's marquee fund, the Blue Owl Credit Income Corp, saw redemption requests rise to 22pc of its $20bn value last quarter – up from 5pc previously. Blue Owl Technology Income Corp, its tech-lending fund, also saw requests to redeem 41pc of the fund's $3bn value in the first quarter of the year, up from 15pc. The company said it would limit redemptions to 5pc, trapping billions of pounds of savers' cash inside the funds. The unprecedented rush for the exits has fuelled fears on Wall Street about the health of the private credit sector. After Blue Owl revealed the scale of the redemptions, major shadow banks saw their share prices plunge on Wall Street. Shares in Apollo Global, Blackstone ?and ?Ares ?Management were down 4.8pc, 4.2pc and 3.4pc, respectively, wiping nearly $10bn off the v Show less Read more
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