Apollo’s Zelter Calls Private Credit Concerns Growing Pains

Apollo Global Management Inc. President Jim Zelter launched a full throated defense of private credit, downplaying investor concerns and describing recent developments in the asset class as mere “growing pains.”

Headlines around retail investors’ withdrawal of cash from private credit funds overemphasized a “skirmish on the sidelines” of the direct lending industry, Zelter said in an interview on Bloomberg Television on Thursday, noting that the rules capping redemptions were perfectly clear — and working as planned.