On June 25, Apollo Global Management fell 4.02% in regular trading, trading at $125.14/share, with turnover of $178 million.
On the news front, Apollo's approximately $25 billion private credit fund, Apollo Debt Solutions, saw redemption requests surge to 16.8% of outstanding shares in the second quarter, involving approximately $2.4 billion in capital. The company immediately capped the quarterly redemption ratio at 5%. Redemption pressure escalated further from the prior quarter's 11.2%, with offshore investor redemption requests reaching 12.5% of total shares, while U.S. client requests slowed to 4.3%.
Apollo has become the latest alternative asset manager to restrict investor redemptions for a second consecutive quarter, as market concerns over private credit exposure to software companies and potential AI disruption continue to weigh on sentiment. The fund reported an 8.1% total net return since inception. Within the Other Diversified Financial Services sector, the broader group also traded lower, with Corebridge Financial down 3.23%, Axa Equitable Holdings down 2.67%, Jackson Financial down 2.53%, and Voya down 2.35%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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