Blackstone is restricting withdrawals from its flagship Blackstone Private Credit, or BCRED, fund following a spike in investor redemption requests, as fears over liquidity pressures rattled private markets. The asset management giant capped investor withdrawals from the $79 billion nontraded business development company at 5% of shares, after redemption requests hit 10% during the second quarter. It comes after U.S. private markets giants sold off on Wednesday after Switzerland’s Partners Group said it was curbing redemption requests in one of its European private equity vehicles. Partners Group said on Thursday it was prepared to restrict withdrawals in more of its...