Apollo Global Management Processes $750 Million in Private Credit Fund Redemptions, Reaching 5% Quarterly Limit

com reported. The firm met redemption requests totaling $750 million, which corresponds to the 5% quarterly limit it set. , where he described 5% redemptions per quarter as standard practice in private credit.

" Rowan emphasized, "If a first lien credit manager can't meet 5% redemptions per quarter, you're an idiot. " Apollo's private credit fund has roughly 12% of its loans in software, the single biggest sector in Apollo Debt Solutions BDC. Rowan noted that private equity spent a decade with 30% of its activity in enterprise software, a sector whose stocks are currently down 60-70%.

Apollo Global Management manages $1 trillion in assets, including $750 billion in credit investments and $16 billion in retail investor assets, according to Rowan. Last year, Apollo originated $310 billion in new investments, with 80% of those being investment-grade financing. Its largest issuers included Intel, BP, Shell, Air France, AB InBev, AT&T, and Meta.

Other firms in the private credit space, including BlackRock, have also limited redemptions to 5%. BlackRock CEO Larry Fink told the BBC in March that the 5% limit is disclosed on the first page of the prospectus. The private credit market overall is valued at $40 trillion, with $2 trillion in levered direct lending.

4%, according to Rowan.

“5% redemptions per quarter are standard." — Marc Rowan > "If a first lien credit manager can't meet 5% redemptions per quarter, you're an idiot. This is not that hard to do." — Marc Rowan > "5% quarterly redemptions of $750 million rounds to zero for Apollo.”