By Isla Binnie and Pragyan Kalita
NEW YORK, June 22 (Reuters) – Apollo Global’s $26 billion private credit fund, Apollo Debt Solutions (ADS), said on Monday it was curbing redemptions at 5% of its shares after ​investors sought to withdraw approximately 16.8% of the total.Â
Paying out those investors will mean gross outflows from the fund come to $700 million, outpacing inflows of $300 million, based on preliminary data, the fund said in a filing. That leaves net outflows worth about 3% of the fund’s asset value so far this year.
Redemption requests rose from about 11.2% in the previous quarter at the fund, which is mainly aimed at wealthy individuals and typically provides an opportunity to withdraw some money once every three months.
Vehicles of this type, structured as business development companies (BDCs) have seen a surge in withdrawal requests this year as concerns rose about transparency, lending discipline and exposure to software among funds that lend directly to companies outside the traditional banking system.
ADS said in the filing that institutional investors were continuing to show strong demand for private credit, adding, “we expect institutional fundraising for our direct lending strategies will exceed that of the wealth channel this year.”
There was a “notable regional split” among investors, the filing went on, specifying that requests to redeem from the onshore United States “moderated sequentially to approximately 4.3%, while redemptions from offshore investors increased to 12.5%”.
(Reporting by Isla Binnie in New York and Pragyan Kalita in Bengaluru; Editing by Sahal Muhammed and Stephen Coates)
By Isla Binnie and Pragyan Kalita | Reuters | © Copyright Thomson Reuters 2026.
