A22
298 posts
A22 retweetledi
🚨 SOMETHING BIG JUST HAPPENED:
BlackRock just blocked investors from pulling their own money out.
The world’s largest asset manager is telling people: no, you can’t have your cash back.
This has never happened before.
BlackRock’s $26 billion private credit fund got hit with $1.2 billion in withdrawal requests this quarter.
Investors wanted 9.3% of their money back.
BlackRock said no. Capped it at 5%. Paid out $620 million and locked the rest.
That means almost HALF the people who wanted out couldn’t get out.
And it’s not just BlackRock.
Blackstone’s similar fund saw a RECORD 7.9% in redemption requests.
They had to raise their withdrawal cap and inject $400 million of their own money just to cover the demand.
Blue Owl straight up stopped honoring redemptions. Replaced them with IOUs.
BLK dropped 5%. KKR, Carlyle, Apollo, Ares, Blue Owl, and TPG all fell 5-6% with it.
The entire private credit sector sold off in a single day.
These funds lend money in illiquid loans. Loans that can’t be sold quickly.
So when too many investors want out at the same time, the fund doesn’t have the cash to pay everyone.
BlackRock also just wrote a separate $25 million loan down to ZERO.
It was valued at full price three months ago. Gone overnight.
JPMorgan’s Bill Eigen said it best: “Bad news often happens all at once. The opacity and the leverage in the sector is concerning.”
This is a $1.8 TRILLION industry.
– Rising oil.
– War in the Middle East.
– AI disrupting the software companies that borrowed heavily from these funds.
– Rate cuts off the table.
When the biggest funds in the world start telling investors you can’t have your money back…
That’s a MAJOR warning.
Btw, I’ve been an investor for more than 20 years, and when I make a new move in the market, I’ll announce it here publicly.
A lot of people will wish they followed me sooner.
English
@TheHateCentral @ManUtd Bruna Fernanda acting like a lady fucking shit player
English
@MUnitedFR @mjcritchley C’est normal il gagne autant qu’un gars qui joue en Arabie Saoudite alors qu il a le niveau d’un gars qui joue en Inde
Français
Marcus Rashford suscite actuellement plus d'intérêt pour un prêt que pour un transfert. [@mjcritchley] #MUFC
Français
Petite anecdote Manchester United voulait payer pour Joao neves mais ten hag le trouvait trop petit et pas adapté a un milieu de premier League 😂💀.
Français
@EditionMerengue @NachitoTV Sacrifier ceux qui ont ramené des champions league au club pour Kylian Mobutu mdrrrrrrrrr
Français
Parmi Jude Bellingham, Rodrygo, Vinícius Júnior et Kylian Mbappé, l’un d’eux ne sera plus au club la saison prochaine.
Le scénario le plus probable reste un départ de Vinícius ou Rodrygo d’ici là. @NachitoTV
The damage Ten Hag Terrorist has done to Manchester United can not be measured
(fan) Frank 🧠🇾🇪@FrankEra_
Álvaro Fernández the other day, wow.
English
Français
🚨 Manchester United are interested in signing Real Madrid goalkeeper Andriy Lunin and are willing to offer around £33m. #MUFC [@elchiringuitotv via @BlancoInsight]
English
Got a strange feeling that Højlund bags tonight. Bookmark it.
English
@AmorimEra_ You just a mad man, hyping players that put us 15th in the league battling for relegation
English
if Bruno was in a PROPER team like Real Madrid he would be regarded one of the best players in the world right now.
The fact he can put up any sort of good performance/output in this current team is a testament to how good he is.
Mark Goldbridge@markgoldbridge
This needs studying! How can someone so clearly keep failing the eye test but consistently deliver on the stat test?
English