Overview
- Apollo said investors asked to redeem about 11.2% of shares in its Apollo Debt Solutions business development company.
- It will return about 45% of the cash investors requested this quarter, or roughly $730 million, under its 5% limit.
- The firm said first-quarter money coming in should offset the money going out.
- These funds let investors cash out a small portion each quarter but hold loans that are slow to sell, which can stress cash when withdrawals jump.
- Most large U.S. BDCs now trade below asset value, and funds tied to firms such as KKR and Blue Owl have fallen as investors question loan quality and transparency.