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Goldman Sachs

July 6, 2026

Americas Asset Managers Retail Private Credit Update

Sector ReportPrivate MarketsFinancials

Retail private credit redemption requests reached 13.7% in 2Q26 as queues grew to 9% of industry NAV, yet liquidity remains healthy and gross inflows showed signs of stabilization in June.

Key Takeaways

  • 1.Requested redemptions for retail private credit funds accelerated to a weighted average of 13.7% in 2Q26, with unfulfilled redemption queues now accounting for roughly 9% of industry NAV.
  • 2.Gross inflows have stabilized in June compared to May, with analysts expecting net outflows to peak in 2Q/3Q26 provided credit conditions remain stable.

Table of Contents

  • Americas Asset Managers: Retail Private Credit Update: Encouraging signs are starting to emerge
  • Update on NT BDCs flows and Performance
  • Disclosure Appendix

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Authors

Alexander BlosteinMichael VinciAnthony CorbinAditya SharmaVaasu Gupta

Securities

Blackstone Private Credit FundOCIC

Themes

Redemption QueuesRetail Private Credit Liquidity

Regions

North AmericaUnited States