Apollo Global Management (NYSE:APO) has limited withdrawal requests from its non-traded private credit fund Apollo Debt Solutions amidst ongoing turmoil in the private credit sector.
Investors asked to withdraw 16.8% of their shares, but the fund capped withdrawals at 5%, according to a shareholder letter cited by Bloomberg.
Most of the requests (12.5%) came from offshore investors, while U.S. customers only accounted for 4.3%.
Last quarter, investors requested to redeem 11.2% of the fund's shares, which have approximately $25 billion in assets.
Read Also: OpenAI Says AI Broke Cybersecurity — Now It Wants AI To Fix It Apollo president Jim Zelter told attendees at Bernstein's Strategic Decisions Conference in New York last month that he expects wealthy clients to continue to seek cash back from private credit products after months of net outflows.
