Private market giant Apollo is halting investor redemptions in its main retail-focused private credit fund after it was rocked by a near-17% spike in withdrawal requests during the second quarter.
The redemption spike once again spotlights the liquidity pressures that have engulfed global private markets this year.
But Danielle Poli, managing director and co-portfolio manager at Oaktree Capital, said institutional capital was reaffirming its commitment to private credit.
She said she expected the market to see a degree of differentiation between private asset managers based on their lending discipline, loan terms and how they considered the impact of a different rate environment. “That’s very healthy and natural,” she added.
