This week's filings span the full range of the liquidity management spectrum. North Haven's Q3 tender came in oversubscribed (only ~43.8% accepted pro rata), while InPoint Commercial Real Estate Income cut its distribution to $0.026/share and announced it's exploring strategic alternatives. On the growth side, Cottonwood Communities REIT announced a merger adding a $614 million multifamily portfolio plus a new third-party management mandate. Meanwhile, Blue Owl's two funds took opposite paths: Blue Owl Credit Income Corp raised $1.0 billion in unsecured notes to refinance upcoming maturities, while Blue Owl Technology Income Corp voluntarily shrank its credit facility for the second time this year to lower borrowing costs. Together, this week's stories show liquidity management playing out very differently fund by fund — from real redemption strain to disciplined, offensive balance sheet moves.

Weekly Liquidity Roundup

North Haven Private Income Fund 3Q26 Tender Offer Oversubscribed

North Haven Private Income Fund reported that its third quarter tender offer was oversubscribed. The fund accepted approximately 43.8% of validly tendered units on a pro rata basis, with total repurchases estimated to reach the full 5.0% cap based on the 9/30 net asset value, with the final dollar amount and exact unit count to be disclosed in a subsequent amendment once that NAV is determined.

InPoint Commercial Real Estate Income, Inc.

InPoint Commercial Real Estate Income fund reported that it will reduce its monthly distribution to $0.026 per share. In a letter to stockholders, the fund stated that it was necessary to align the distribution level with the portfolio's earnings capacity and expected cash flows. Alongside the cut, InPoint said it intends to engage an investment bank “to explore strategic alternatives,” which the letter described as potentially including “strategic transactions, portfolio-level solutions, or potentially other initiatives designed to maximize value and improve liquidity for stockholders.” The REIT’s share repurchase plan remains suspended since 2023.

Cottonwood Communities REIT Announces Merger

Cottonwood Communities, Inc. (CWREIT) announced in a press release on 9/2/2026 that they agreed to a strategic merger with Mandel Group, Inc., a private owner and operator of real estate. The transaction is expected to include a $614 million multifamily real estate portfolio comprised of 13 multifamily properties to merge with the CWREIT portfolio. Additionally, a separate ~$700M of Mandel Group’s assets will be managed by Cottonwood on a third-party basis.

Blue Owl Credit Income Corp Raised ~$1.0 Billion in Unsecured Notes Offering

Blue Owl Credit Income Corp reported that they completed a two-tranche $1.0 billion unsecured notes offering: $700 million of 6.250% Notes due 2029, and a $300 million add-on to its existing 6.550% Notes due 2031 (issued in June 2026), bringing that series to $800 million outstanding. The deal generated net proceeds of approximately $988.1 million.

Proceeds are earmarked to repay borrowings under the fund's senior secured Revolver (~$591.5 million outstanding as of June 30, 2026) and to retire its 3.125% Notes due September 23, 2026 — a maturity landing just nine days after this offering closed.

Blue Owl Technology Income Corp (OTIC) Amends Credit Facility

Blue Owl Technology Income Corp entered a Fourth Amendment to its Senior Secured Credit Agreement (SMBC) on September 10, 2026, voluntarily cutting the facility from $1.05 billion to $975 million while extending maturity nearly two years, from October 2029 to September 2031. The company stated the reduction was made to lower borrowing costs and better align with its target leverage. This marks OTIC's second facility reduction of the year, following a $500 million cut across three SPV facilities in July 2026 where they are voluntarily shrinking borrowing capacity.

Open Redemption Windows

• Carlyle Credit Solutions

• Private Debt & Income Fund

• Lord Abbett Corporate Opportunities Fund

• Clarion Partners Real Estate Income Fund

• KKR Real Estate Select Trust Inc.

Recent Redemption Results

• Stellus Private Credit BDC | $5.7M tendered, $5.7M repurchased (2.89% of NAV vs 5% cap)

Liquidity Roundup is a 5-minute briefing created by Sekond and designed to keep you current on liquidity events across evergreen funds. For full details on deadlines, caps, and more, sign into your Sekond account.