Non-traded BDC Q3 redemption requests fall to 11.5% of NAV; $8.2bn left unmet

19 NAV BDCs reported $13.8bn of Q3 requests (11.5% of NAV vs 12.7% in Q2) and met about 40%. Blue Owl Technology Income Corp. requests were 39% of shares; BCRED held repurchases to its 5% cap on about $4.3bn of requests.

Why it matters for deal teams: Redemption queues drive asset sales and slow deployment. Know which co-lenders on your deals are capacity-constrained.