Apollo sees demand to withdraw from non-traded private credit fund halving, president says

Requests to withdraw capital from Apollo Global's APO.N non-traded private credit fund have reduced to around half the level the asset manager received last time it gave investors the option to do so, the company said on Tuesday.

"Acknowledging that it is a bit early ... we're seeing half the redemption we saw last time," Jim Zelter told analysts on a conference call.

The $26 billion Apollo Debt Solutions (ADS) fund said in June it would redeem the customary maximum of 5% of its shares after investors asked to take back approximately 16.8% of the total. Wealthy individuals have pulled back from private credit funds this year on fears about transparency, liquidity and exposure to software.