Apollo falls after firm caps fund redemptions amid withdrawal surge

Shares of alternative asset manager Apollo Global Management APO.N fall 1.51% to $108.78 premarket

APO said late on Monday it was curbing redemptions at 5% of its shares after investors sought to withdraw approximately 11.2% of the total outstanding shares

The withdrawals leave the fund with about $730 million of gross outflows for the period, balancing out inflows of about $724 million

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

15 of 18 analysts rate stock "strong buy" or "buy" and four "hold"; their median PT is $158.5 - data compiled by LSEG

As of last close, stock down 23.7% YTD

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