US asset manager shares drop after Blue Owl limits withdrawals in two funds

April 2 (Reuters) - Shares of U.S. asset management giants fell before the opening bell on Thursday after Blue Owl OWL.N capped the amount investors can withdraw from two of its retail-focused funds, stoking fresh concerns about the industry.

Apollo Global APO.N, Blackstone BX.N and Ares Management ARES.N dropped 4.8%, 4.2% and 3.4%, respectively.

KKR KKR.N fell 4.1%, while Carlyle Group CG.O slipped 3.4%. Blue Owl tumbled 8.8%.

Blue Owl limited the redemptions after investors asked to withdraw 40.7% of shares in technology-focused Blue Owl Technology Income Corp (OTIC) and 21.9% of shares in the larger fund Blue Owl Credit Income Corp (OCIC), the funds said.

The curbs on withdrawals risk reinforcing doubts about the health of the private credit industry, where investors have already been pulling billions and forcing managers to limit redemptions.