Carlyle Caps Private Credit Redemptions After Investors Seek 16%

A $7 billion private credit fund managed by Carlyle Group Inc. capped redemptions after investors asked to pull 15.7% of the shares in the first quarter.

Carlyle Tactical Private Credit Fund is paying out less than a third of what investors asked for, capping withdrawals at 5%, the fund said in a letter sent to shareholders and seen by Bloomberg News. That means investors who asked to redeem an estimated $750 million only received about $240 million, based on the fund’s net asset value as of December.