April 2 (Reuters) – Shares of U.S. asset management giants fell before the opening bell on Thursday after Blue Owl capped the amount investors can withdraw from two of its retail-focused funds, stoking fresh concerns about the industry.
Apollo Global, Blackstone and Ares Management dropped 4.8%, 4.2% and 3.4%, respectively.
KKR fell 4.1%, while Carlyle Group 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.
(Reporting by Niket Nishant in Bengaluru; Editing by Maju Samuel)
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