Alternative asset managers fall as Morgan Stanley curbs private credit fund redemptions

Shares of alternative asset managers slip after Morgan Stanley MS.N limits redemptions at one of its private credit funds

MS limited redemptions at its North Haven Private Income Fund after investors sought to withdraw almost 11% of shares outstanding, a ​regulatory filing showed on Wednesday

Blackstone BX.N, Ares Management ARES.N, KKR KKR.N, Blue Owl Capital OWL.N and Apollo Global Management APO.N down between 1.4% and 2.8%

Separately, JPMorgan Chase JPM.N has restricted lending to private credit providers after the bank marked down value of certain loans in the firms' portfolios, Bloomberg News reported on Wednesday

Credit concerns in recent months have drawn fresh scrutiny to the roughly $2 trillion private credit market, as investors question the health of loan portfolios

Earlier this month, BLK disclosed it has limited withdrawals from its flagship $26 billion HPS Corporate Lending Fund (HLEND) fund

While BX on March 2 disclosed that its ​private credit fund, known as BCRED, faced a surge in withdrawals in the first quarter