The Blackstone Group Inc. and Carlyle Group Inc. are calling on their respective portfolio companies to tap into credit lines to help avoid liquidity shortfalls in light of the rising market strain stemming from the coronavirus outbreak and oil price slump, Bloomberg News reported.

At Blackstone, the focus is on portfolio companies in hospitality, energy and other sectors hit by the coronavirus, the news outlet noted, citing people with knowledge of the matter. The private equity firm did not make a firm directive, but said it is exploring the financing requirements of certain companies "directly impacted by COVID-19," a Blackstone spokesman told Bloomberg.

At Carlyle, the private equity firm has recommended its portfolio companies draw down credit lines in specific scenarios, with the decisions depending on sectors, regions and other factors, people familiar with the matter reportedly said.

A Carlyle representative declined to comment on the matter, according to Bloomberg.