Blackstone private credit fund agrees to increased redemptions

NEW YORK, March 2 (Reuters) - A private credit fund managed by alternative asset manager Blackstone BX.N agreed to increase payouts to investors from a private credit fund this quarter, the company said on Monday.

"Total repurchase requests for the quarter exceeded the 5% of shares typically available for repurchase," Blackstone said in a securities filing.

It said the board would "upsize" the amount it typically lets investors redeem, to 7% of the value of the fund.

It added that employees and the firm had invested a total $400 million into a feeder fund which would offset a further 0.9% that investors had requested to redeem.