'You're an idiot': Apollo's Marc Rowan has a word for lenders who can't meet private credit fund redemptions

To learn more about the CNBC CFO Council, visit cnbccouncils.com/cfo

In this article

Alternative investments giant Apollo Global Management

has seen its stock swoon this year as a result of fears in the private credit market. At CNBC’s Invest in America Forum in Washington, D.C., on Wednesday, its billionaire CEO Marc Rowan offered the latest defense of its book of business, and latest attempt to distance the firm from the riskiest edge of the private credit market.

Apollo has faced scrutiny for its decision to limit quarterly redemptions in a private credit fund to 5% — other firms in the space have relaxed their redemption limits, though 5% is a generally accepted standard in the industry. Apollo has also been vocal in saying that many software valuations, the sector at the center of the private credit default fears as a result of the potential for rapid AI disruption, are “wrong.”