KKR-Income Trust I, a non-traded private credit fund serving wealthy investors outside the United States, received withdrawal requests equal to approximately 2.5% of net asset value in the third quarter, easing from the prior quarter as redemption pressure persisted across the private credit market. The fund capped Q2 redemptions at 5% after $10.5 million in requests remained outstanding and expects to honor those requests alongside additional Q2 requests, for a combined total of $34.7 million. Its aggregate average NAV was approximately $1.4 billion at the end of Q2, when it recorded a 1.9% increase, while its annualized net total return since inception was 10.3%. Private credit funds have restricted withdrawals as investors sought to exit more capital than managers could immediately return. More than $14.5 billion was requested from over a dozen funds in Q2, but only $8.6 billion was returned. Cliffwater capped withdrawals at 5% after requests reached approximately 16% of shares, while Blackstone’s $77.2 billion BCRED received $4.3 billion in Q3 requests, equivalent to roughly 10% of shares, and also limited withdrawals to 5%.