Apollo President: 'Not Through Turbulence Yet' for Wealthy Private Credit Funds
Summary
Apollo President Jim Zelter anticipates ongoing withdrawals from US private credit funds for wealthy investors, stating the sector is 'not through the turbulence yet.' This follows Apollo's own pause on withdrawals from its flagship private credit fund in March and a subsequent $20 billion offering for that BDC. The executive's outlook signals continued headwinds for capital retention and liquidity in a crucial growth segment for alternative asset managers like Apollo.
At the time of this announcement, APO was trading at $128.89 on NYSE in the Finance sector, with a market capitalization of approximately $73.5B. The 52-week trading range was $99.56 to $157.28. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.