On July 2, it was reported that for the second consecutive quarter, two private credit funds under Blue Owl Capital Inc. faced the largest redemption requests in the industry, forcing the company to once again limit investor redemptions. According to a letter to investors from Blue Owl on Thursday, the Blue Owl Credit Income Corp., one of the largest private credit funds in the industry with approximately $34 billion in assets, saw redemption requests in the second quarter amounting to 18.8% of the fund's total shares, corresponding to about $3.6 billion. This figure is lower than the $4.2 billion in redemption requests from the previous quarter. The smaller Blue Owl Technology Income Corp. received redemption requests in the second quarter that accounted for 38.1% of the fund's total shares, amounting to approximately $1.1 billion, compared to $1.2 billion in the first quarter. Blue Owl has been at the center of a storm sweeping through the $1.8 trillion private credit market. As investors accelerate withdrawals, the company, along with peers such as Apollo Global Management, Ares Management, BlackRock, and Blackstone, has implemented redemption restrictions. However, Blue Owl noted in the letter, 'We are encouraged that the amount of redemption requests for OCIC this quarter has slightly decreased compared to the previous quarter, and this improvement is reflected across different sales channels and regions.'