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First quarter earnings reports from major public alternative asset managers Apollo, Ares, Blackstone, Blue Owl, Brookfield, Carlyle Group, KKR and TPG struck a consistent chord: Keep calm and carry on. The firms sought to ease concerns raised by a wave of redemption requests affecting non-traded business development companies and interval funds focused on private credit. The companies underscored their ability to meet redemption requests without resorting to extreme measures.
In addition, many posted net increased fundraising from the private wealth channel across all private market strategies. And some managers provided additional disclosures in an attempt to stem concerns about the underlying loans in their private credit funds. The Redemption Queue According to Robert A.