Apollo Credit Fund Caps Redemptions After 14.7% Seek Exit

Apollo Debt Solutions BDC will limit investor redemptions for the third consecutive quarter after requests reached 14.7% of its outstanding shares, highlighting continued liquidity pressure in private credit.

The fund plans to repurchase up to 5% of outstanding shares during its latest quarterly window. Requests above that limit will be handled proportionally, with unmet requests potentially carried into later windows.

Apollo Debt Solutions BDC has about $25.9 billion in assets and is a nontraded business development company, meaning investors cannot sell shares continuously on a stock exchange. Instead, they can seek exits only during scheduled quarterly repurchase periods.

Redemption demand declined from 16.8% in the previous quarter but remained close to three times the fund’s repurchase capacity. Most requests this quarter came from investors whose earlier redemption requests were not fully met.

The fund expects to repurchase about $700 million of shares during the quarter. New subscriptions totaled about $200 million, putting projected net outflows at roughly $500 million, or 3% of net asset value.

The repeated limits keep investor liquidity in focus across private-credit products distributed through wealth-management channels.