Cliffwater’s retail-facing flagship private credit fund received redemption requests equal to 17% of the fund in Q2 and has imposed withdrawal limits, capping redemptions at 5% of outstanding shares for the quarter. The fund is about $31bn. The action highlights accelerated investor exits from private credit after nine months of heavy redemptions amid asset-quality concerns in loan portfolios; selling has intensified recently as investors worry AI could disrupt heavily financed software companies in the sector.(金十数据)