The Carlyle Tactical Private Credit Fund (CTAC) received redemption requests totaling 15.7% of its outstanding shares. This volume significantly exceeds the fund's 5% quarterly limit.
Carlyle will honor requests only up to the 5% cap to manage liquidity and prevent forced asset sales. This measure, known as gating, follows a surge in withdrawal requests across the private credit industry.
Similar trends are currently affecting major asset managers including BlackRock, Apollo, and Blue Owl. Investors cite growing concerns regarding the illiquid nature of private credit and the health of underlying loan portfolios.