Shares of banks and other financial institutions rose as traders continued to rotate out of the technology sector.
Shares of Blue Owl rose after investors in two of the money manager's flagship private-credit funds asked the firm to return $4.7 billion of their money in the second quarter, a reduced outflow from the previous quarter.
Separately, Bloomberg reported that Phil Tseng, head of a troubled private credit at BlackRock, was leaving the firm. Investors are trying to ascertain if the rush for the exits at the funds that package direct loans to corporations can be contained, or will lead to widespread stress in credit markets.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
