Ares caps withdrawals from marquee private credit fund as redemptions mount
TL;DR Summary
Ares Management capped redemptions from its $10.7bn Ares Strategic Income Fund at 5% for the quarter after receiving $1.2bn in redemption requests in Q1 and fulfilling about $524m, as private credit funds face rising withdrawals even as new commitments and liquidity persist.
- Ares limits withdrawals from $10.7bn private credit fund Financial Times
- Apollo gives investors only 45% of requested withdrawals from $15 billion private credit fund CNBC
- Apollo Caps Private Credit Fund Withdrawals as Requests Jump Bloomberg.com
- These private-credit funds are giving back less than half the money their investors want MarketWatch
- Wall Street crisis spreads as shadow banks block withdrawals The Telegraph
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