A Goldman Sachs (GS) private credit fund reported that repurchase requests slumped to about 2% in Q3, from roughly 3.2% in Q2 and 4.99% in Q1, according to a September filing.

The fund said it received about $400 million of gross subscriptions during the quarter, equal to about 4.4% of its June 30 net asset value of $9.2 billion. Its inflows were 2.1 times estimated repurchase requests, according to the filing.

Goldman Sachs Private Credit Corp. will fulfill all withdrawal requests in full as they are below its 5% quarterly repurchase offer, the fund said in a regulatory filing.

The fund's Q3 repurchase rate is among the "lowest of the largest non-traded BDC managers in our peer group," whose reported withdrawal requests to date ranged from 10% to more than 16%, per the filing.

A BDC is an investment company structure designed to direct capital toward middle-market and privately owned businesses.

The fund said the non-traded BDC industry has faced sustained repurchase pressure in 2026 amid geopolitical uncertainty, reassessment of AI's impact on private credit portfolios, and weaker capital flows into evergreen vehicles.