At a glance
- BCRED, HLEND and a Morgan Stanley BDC prorated redemptions in the same period.
- Requests at the five funds that filled every request during the third quarter ranged from about 2% to half of their offer limits.
- Clients in those funds received full liquidity, while shareholders in BCRED, HLEND and the Morgan Stanley BDC received a pro-rata portion of what they asked to redeem.
SEC filings and fund announcements show five nontraded funds filled every tender request in the third-quarter repurchase cycle.
BCRED, HLEND and a Morgan Stanley BDC prorated redemptions in the same period.
Requests at the five funds that filled every request during the third quarter ranged from about 2% to half of their offer limits.
Clients in those funds received full liquidity, while shareholders in BCRED, HLEND and the Morgan Stanley BDC received a pro-rata portion of what they asked to redeem. A fund that offers a set repurchase amount can fill every request only when actual demand does not exceed the amount it has put on offer.
Five funds filled every Q3 request; three prorated
Q3 repurchase results: fund counts, and full-fill demand as a share of offer limits
Reported by The Wrap desk from Fund announcements and SEC filings. Published . Corrections