The $3.5 Trillion Shadow That Swallowed the World’s Richest City
The exits are quietly closing on Wall Street.
Over the past few weeks, major financial institutions—including BlackRock, Morgan Stanley, and Blue Owl—have begun halting or restricting redemptions on their private credit funds. [1] [2]
Investors are discovering a terrifying reality: they cannot get their money out.
This is how a liquidity crisis begins.
Private...
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