Apollo, Blue Owl Lament Private Credit’s Liquidity Confusion (1)

Some of the highest-profile executives in private credit said the industry failed to clearly explain liquidity restrictions to investors now rushing for the exits.

“Certain distribution channels in certain parts of the globe,” may not have fully communicated the risks inherent to the asset class, Jim Zelter, president of Apollo Global Management LLC, said at the Asia Pacific Financial and Innovation Symposium in Melbourne on Thursday. “And so you have a mismatch right now in shorter term redemptions.”

Echoing those remarks, Doug Ostrover, co-chief executive officer at Blue Owl Capital Inc., said distribution teams targeting retail ...