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00:02Blackstone shares fell Tuesday as private credit stocks declined alongside Apollo and Ares after
00:07both firms limited investor withdrawals from flagship funds following elevated redemption
00:12requests, according to Bloomberg. Ares allowed only 5% withdrawals from its $10.7 billion fund
00:19after requests exceeded double that level. Apollo applied the same cap to its $15.1 billion fund.
00:25The scale of redemptions increased concerns about liquidity and private credit.
00:30Firms responded by limiting withdrawals, selling assets, and injecting capital.
00:34The sector also faces weaker inflows, with demand for non-traded business development companies
00:39down 43% year-over-year. Ares and Apollo said they will keep withdrawal limits at 5% next
00:46quarter, indicating they expect redemption pressure to persist.
00:49For all things money, visit Benzinga.com.
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