Goldman Sachs' private credit fund redeemed 4.999% in the first quarter, barely avoiding the industry maximum limit.

A private credit fund under the Goldman Sachs Group said that the percentage of investors seeking redemptions in the first quarter was slightly below 5%. This allowed it to narrowly avoid the widespread redemption wave that forced some peers to restrict redemptions. According to a filing on Monday, the $15.7 billion Goldman Sachs private credit fund manages a so-called non-traded business development company; the fund fulfilled redemption requests equivalent to 4.999% of its outstanding shares in the first quarter. In contrast, redemption requests received by peers, including Blue Owl Capital Inc., far exceeded the industry's common 5% limit. However, redemption requests were still higher than the 3.5% in the fourth quarter of last year.