Apollo's $15 billion private credit fund faced redemption requests totaling 11.2% of shares, more than double its 5% quarterly withdrawal cap. The fund will only return about 45 cents on the dollar to investors this quarter, sticking to the cap to protect long-term value. This contrasts with rivals like Blackstone, which have eased withdrawal limits to meet investor demand. Despite Apollo's focus on loans to large, stable companies, software remains the largest sector in its portfolio at 12.3%, highlighting ongoing concerns in private credit linked to tech loans.
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...
