Private Credit Veteran Warns Market Cracks as Redemption Caps Emerge
Morgan Stanley (MS) has limited withdrawals to 5% from its $7 billion private credit fund, while Apollo Global Management (APO) is also restricting redemptions. Len Tannenbaum warns that the market's stress stems from loans originated during a zero-rate environment now facing higher interest rates.
Topics: Apollo Global Management BDCs Morgan Stanley private credit redemptions