Apollo Private Credit Fund Limits Quarterly Redemptions
Apollo Debt Solutions will honor 5% of redemptions after requests hit 11%. The fund expects to return about 45% of the requested capital to its shareholders.
Apollo Debt Solutions, a business development company managed by Apollo Global Management, Inc., announced on Monday that it is limiting investor redemptions following a surge in withdrawal requests. Investors sought to redeem approximately 11.2% of the fund's outstanding shares, a figure that significantly exceeds the fund's standard quarterly repurchase limits.
In a regulatory filing, the firm stated it would honor redemption requests for 5% of its shares outstanding. This move results in approximately $730 million in outflows for the quarter. The manager noted that while withdrawal requests were high, the firm expects inflows and outflows to balance each other out during the first quarter of the year.
