Blue Owl Capital’s private-credit redemption pressure eased in the third quarter, with investors seeking $4.2 billion from two non-traded funds, down from $4.7 billion in the second quarter and a record $5.4 billion in the first. Requests at the $35.1 billion Blue Owl Credit Income Corp. fell to 16.8% of shares from 18.8%, although Blue Owl said most reflected resubmitted, previously unfulfilled tenders. Technology-focused Blue Owl Technology Income Corp. remained under heavier pressure, with requests rising to $1.1 billion, or 39% of shares, from 38.1%. Goldman Sachs’ $18.2 billion GS Credit fund also reported lower requests and about $400 million in gross inflows. Analysts say weak new subscriptions may remain a challenge for non-traded BDCs. Outside the United States, Australia’s Metrics Credit Partners froze redemptions in some unlisted funds after KPMG declined to sign off on accounts. Blue Owl executives also warned that refinancing risk could become more important as loans mature, particularly around 2028, despite broadly stable software portfolio performance. Blue Owl’s stock had previously fallen to $9.08, while the firm continued expanding private credit and real assets.