These private-credit funds are giving back less than half the money their investors want
Private-credit funds managed by Apollo and Ares have capped redemptions at 5%, despite receiving requests for over 11% of their shares. The move has led to a decline in shares of the asset managers, with Apollo Global Management and Ares Management dropping 4.6% and 3.4% respectively.
Apollo and Ares private-credit funds have limited redemptions to 5% of shares outstanding. The funds received requests for over 11% of their shares, but are only honoring a portion of these requests. Apollo Debt Solutions BDC has $25 billion in assets and received requests for $1.24 billion in redemptions. Ares Strategic Income Fund has $10.7 billion in assets and received requests for $1.24 billion. The limited redemptions have led to a decline in shares of the asset managers. Apollo Global Management and Ares Management shares dropped 4.6% and 3.4% respectively.
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