Goldman Sachs’ private credit fund has reported that investors sought to repurchase 3.24 per cent of its outstanding shares in the second quarter, bucking the recent trend of elevated redemption requests across the private credit sector.
In a shareholder letter, Goldman Sachs Private Credit Corp said investors requested to withdraw 3.24 per cent of shares outstanding, below the fund’s five per cent quarterly repurchase cap. The requests will be fulfilled in full, the bank said.
The update comes as alternative asset managers including Ares, Apollo and Morgan Stanley have all faced withdrawal requests from their private credit funds ranging from 12 to 17 per cent, with elevated redemptions extending into the second quarter.
The redemptions driven by concerns over lending standards in private credit and growing fears that artificial intelligence could undermine the software sector, an area to which the asset class has significant exposure.
As a result, Goldman’s business development company (BDC) has diverged from the broader industry trend, alongside Oaktree Capital Management’s Strategic Credit Fund, which recorded redemption requests equivalent to 4.5 per cent of assets in the second quarter.
“We view this as a meaningful expression of shareholder confidence — particularly during a period when the broader non-traded BDC industry is experiencing meaningful repurchase pressure — which is deeply appreciated and not taken for granted and gives us the stability and flexibility to invest with discipline and patience,” Goldman Sachs said in its second quarter shareholder letter.
Goldman Sachs also reported that its BDC received $275m (£207m) in gross inflows during the quarter, equivalent to roughly three per cent of net asset value. The fund generated $1.3bn of total gross subscriptions in the first half of 2026.
