US Stock Movement | Apollo Global Management falls over 3% pre-market after redemption surge forces restrictions on redemptions from one of its private credit funds

格隆汇 March 24｜A certain exchange dropped more than 3% before market open, closing at $107. In terms of news, the giant asset manager is under pressure due to a surge in redemption requests, becoming the latest major firm to adopt restrictive measures for alternative assets. Its $25 billion BDC—Apollo Debt Solutions—limited redemptions to 5% of outstanding shares on Monday, while investors submitted redemption requests for as much as 11.2%. In comparison, earlier this month the same exchange set a 5% redemption cap for its $26 billion unlisted BDC, with investors requesting to redeem 9.3% of shares. The North Haven Private Income Fund under this exchange had a proportionate redemption ratio similar to Apollo.