Private credit funds have grappled with high redemption requests in recent months as jittery retail investors bolt for the door amid concerns over transparency, valuations and artificial intelligence-related disruption.
Non-traded funds, like Barings Private Credit, offer quarterly liquidity to investors through tender offers typically of up to 5% of shares.
Barings has accepted to purchase on a pro-rata basis roughly 44.3% of shares tendered in its offer, according to the filing.
“The fund’s liquidity framework is designed to protect the long-term interests of all shareholders. By applying this approach consistently, we seek to balance near-term liquidity needs with prudent stewardship of capital for both exiting and remaining investors,” the fund said in a shareholder letter.
