BlackRock, the world’s largest asset manager, saw its shares slide over 7% on Friday after the company capped withdrawals from one of its private credit funds, sending its stock to a low point not seen since May 2025.

- The firm’s stock closed down 7.2% on Friday to $955.45, continuing a string of losses that began last week.

- BlackRock shares are now down 10.7% since the start of the year, when the firm’s stock traded around the $1,085 mark.

- BlackRock’s HPS Corporate Lending Fund, which acts as a private lender for large companies, said Friday shareholders can only redeem 5% of their shares after the fund received requests to redeem 9.3% of its shares in its latest quarter.

- The total value of the shares requested would have been around $1.2 billion, according to Bloomberg, which noted investors will receive about $620 million held by HPS by year’s end.

- Major private credit funds are experiencing heightened levels of redemption requests lately as investors have become increasingly concerned about limits on redemptions and their ability to exit their positions.

This is a developing story. Check back for updates.