贝莱德、黑石等多家美国私募信贷基金面临赎回压力,触发流动性上限

Gate News 消息,3 月 8 日,多家美国私募信贷基金在 2026 年第一季度面临赎回压力。贝莱德旗下 HPS Corporate Lending Fund(规模约 260 亿美元)收到约 9.3% 基金份额的赎回请求,约 12 亿美元,首次触发季度回购上限(原上限 5%),实际可赎回约 6.2 亿美元。黑石旗下 BCRED 收到约 7.9% 基金份额的赎回请求,约 37 亿美元,黑石将回购上限从 5% 提高至 7%,并自行注入约 4 亿美元内部资金,其中超过 1.5 亿美元来自高管和资深员工。Blue Owl 旗下 OBDC II(规模约 16 亿美元)通过出售约 14 亿美元资产给北美养老金和保险机构,并将原季度 5% 赎回框架改为最高约 30% 返还安排,涉及约 128 家公司,覆盖 27 个行业。Fitch 2 月数据显示,其跟踪的永久型非上市 BDC(商业开发公司)在 2025 年第四季度平均赎回率升至 4.5% NAV(净资产值),较前一季度的 1.6% 显著上升。机构对信贷 ETF 的保护性看跌仓位(一种对冲风险的金融工具)冲至历史高位。S&P Global Ratings 已将"AI 带动的科技发债、AI 估值风险、非银机构杠杆上升"列为 2026 年信用市场流动性的关键变量。

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