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00:02Apollo Global's $26 billion private credit fund, Apollo Debt Solutions, said Monday it
00:08was limiting redemptions to 5% of its shares after investors sought to withdraw about 16.8%
00:14of the total, according to Reuters. The fund said gross outflows will reach $700 million,
00:20topping $300 million in inflows. Net outflows represent about 3% of the fund's asset value
00:26so far this year. Redemption requests rose from 11.2% in the prior quarter.
00:32Business development companies have faced more withdrawal requests this year,
00:36as investors raised concerns about transparency, lending standards, and software exposure in
00:42private credit funds. The fund said institutional investors continue to show strong demand
00:46for private credit and expects institutional fundraising for its direct lending strategies
00:51to exceed the wealth channel this year. For all things money, visit Benzinga.com.
00:56and visit Benzinga.com.
00:57and visit Benzinga.com.
00:57You
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