Apollo gives investors only 45% of requested withdrawals from $15 billion fund
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Date: March 24th, 2026 7:10 AM Author: beady-eyed fighting theater
In a filing with the Securities and Exchange Commission late Monday, Apollo Debt Solutions BDC said that it received redemption requests equal to 11.2% of shares outstanding in the first quarter, far exceeding the 5% quarterly cap the fund allows.
Unlike some other private credit players, Apollo is sticking with the 5% cap, an industry standard that rivals including Blackstone have recently relaxed to satisfy investor demands for their funds.
The vehicle — a non-traded business development company, or BDC — expects to return about $730 million to investors on a prorated basis, meaning redeeming shareholders will receive roughly 45% of the capital they requested. The fund has a net asset value of $15.1 billion as of Feb. 28.
(http://www.autoadmit.com/thread.php?thread_id=5849122&forum_id=2\u0026mark_id=5310906#49764436) |
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