A private credit fund managed by Ares Management Corp. posted its steepest monthly loss on record in February, providing further evidence of deteriorating performance in the $1.8 trillion private credit market.

Two of the biggest names in private credit, Ares Management Corp. and Apollo Global Management Inc., blocked investors from getting even half of the money they wanted out of their funds, a sign of mounting strain in the $1.8 trillion market. The $10.7 billion Ares Strategic Income Fund limited withdrawals to 5% of shares after clients sought to redeem 11.6%, according to a letter to shareholders Tuesday. That followed the $15.1 billion business development company, Apollo Debt Solutions, which said Monday it was imposing the same cap after requests to pull 11.2%. Bloomberg's Paul Gulberg joins to discuss. (Source: Bloomberg)

Shares of alternative asset managers declined after Ares Management Corp. and Apollo Global Management Inc. became the latest firms to curb withdrawals from some of their funds.

Two of the biggest names in private credit, Ares Management Corp. and Apollo Global Management Inc., blocked investors from getting even half of the money they wanted out of their funds, a sign of mounting strain in the $1.8 trillion market.

The recent selloff in firms tied to the private credit industry threw Ares Management Corp. “out with the bathwater,” according to BofA Securities Inc.

Ares Management Corp. is leading a continuation fund for frozen baked goods firm Europastry SA, owned by MCH Private Equity.

Ares Management Corp. convened a town hall this week to reassure employees about recent market volatility and emphasize the investment opportunities it created, according to Chief Executive Officer Mike Arougheti.

Ares Management Corp. is planning to establish its first Asia local currency private credit fund in Thailand, according to people familiar with the matter, as the country emerges as a new market for the asset class.

Julie Solomon, Partner and Head of Real Estate at Ares Management, discusses the impact of recent interest rate increases on the real estate sector and the broader market. Although challenges persist for lower-quality office assets and properties in secondary markets, she says overall lending conditions are expected to remain supportive for well-positioned real estate investments. (Source: Bloomberg)

Ares Management Corporation Partner & Head of Real Estate Julie Solomon and Stonepeak Partners Co-President Luke Taylor discuss where private capital is flowing across AI infrastructure, power and connectivity, speaking with Bloomberg’s moderator at Bloomberg Invest New York 2026. (Source: Bloomberg)

Apollo Global Management Inc.’s John Zito said the turmoil facing private credit could endure well into next year, but downplayed the idea that the wave of withdrawals in some funds are a problem.

Ares Management Partner and Head of Real Estate Julie Solomon says this higher interest rate environment has created a lot of discipline in real estate markets. She speaks at Bloomberg Invest on Bloomberg Television. (Source: Bloomberg)

"There’s an argument that someone of our size and global reach should be larger, generally in private equity," Ares Management CEO Michael Arougheti says during a discussion with Bloomberg's Dani Burger at Bloomberg Invest. (Source: Bloomberg)

Ares Management CEO Michael Arougheti says the outbreak of war in the Middle East hasn’t changed his investment expectations for how 2026 will play out during a discussion with Bloomberg's Dani Burger at Bloomberg Invest. (Source: Bloomberg)

A forecast last week from UBS Group AG analysts that private credit default rates could reach 15% was “absolutely wrong,” Ares Management Corp.’s Chief Executive Officer Mike Arougheti said.

Ares Management Corporation Co-Founder & CEO, Michael Arougheti, discusses the private credit cycle, firm growth and the push to expand access beyond traditional institutional investors. He spoke with Bloomberg’s Dani Burger at Bloomberg Invest 2026 in New York. (Source: Bloomberg)

Ares Management Corp. closed an $850 million deal that allowed an asset that its private equity business bought in 2018 to be rolled into a new vehicle.

Ares Management Corp. emerged as the primary buyer for a private credit portfolio sold by Arcmont Asset Management in the market for secondhand stakes, according to people familiar with the matter.

Optimum Communications Inc. said a top law firm’s withdrawal from representing it under pressure from Apollo Global Management, Ares Management, Oaktree Capital Management and others showed that they were participating in a cartel against it.

Around three years ago, after deciding it wanted to start placing bigger sports bets, Ares Management Corp. wrote a check for over $400 million to a maverick investor pushing a new model of football ownership.