Apollo Global Management (NYSE:APO) CEO Mark Rowan called private credit lenders who can’t meet 5% redemptions “idiots” during CNBC’s Invest In America forum.
• Where is APO stock headed?
“I’ll say it frankly, you’re an idiot. This is not that hard to do,” Rowan said to CNBC’s Sara Eisen. Rowan’s remarks came as he argued that parts of the software market have been mispriced, while stressing that risk in private credit is not evenly distributed.
Investors have been watching the private credit space closely amid worries that software-linked loans could be vulnerable if artificial intelligence reshapes business models faster than expected.
Last month, Apollo received redemption requests in its Apollo Debt Solutions BDC fund, equal to approximately 11.2%, or …
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