Private credit funds are limiting investor withdrawals due to rising concerns over loan quality and increasing defaults, particularly in sectors like software and among smaller borrowers. Asset managers like Ares and Apollo have capped redemptions to manage liquidity amid fears reminiscent of the 2008 financial crisis. Analysts suggest that while an 8% default rate spike would be painful, it represents a necessary reset that could strengthen underwriting standards and valuations in the sector. The situation highlights risks in highly leveraged, rate-sensitive debt but is not seen as systemic, with many funds less leveraged than in 2008 and supported by long-term institutional investors.
Citigroup downgraded Apollo Global Management's stock from Buy to Reduce due to concerns over a potential economic slowdown and a sharp drop in U.S. private credit lending. Apollo's shares are trading well below their 52-week high, reflecting caution...
Apollo Global Management has finalized the acquisitions of Emerald Holding and Questex, merging two major B2B event and media companies into a single, scaled platform. This integration aims to accelerate growth, enhance innovation, and deliver greate...
