Apollo Redemptions Halve, Ares Slashes Fund as Private Credit Stress Eases
APO sits 30% above its 52-week low of $99.56 on light trading volume (0.1× avg).
Summary
Apollo's ADS fund saw redemption requests drop to roughly half the prior level, a sign that withdrawal pressures are easing. CEO Marc Rowan also said the firm is on track to offer daily pricing by October, a move that could broaden its investor base. Meanwhile, Ares Management was forced to shrink a continuation fund from €1 billion to about €400 million after investors balked at loan valuations. The roundup also notes weaker Q2 results at BCP Investment and Morgan Stanley Direct Lending, reflecting unrealized software losses and non-accrual positions. The Fed's planned survey of the $1.3 trillion private credit market adds a regulatory spotlight.
At the time of this announcement, APO was trading at $129.01 on NYSE in the Finance sector, with a market capitalization of approximately $76.3B. The 52-week trading range was $99.56 to $153.29. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.