Asset Manager Shares Slump After Blue Owl Private Credit Funds Impose Limits

Shares of top asset managers fell Thursday, after Blue Owl Capital Inc. said it will limit redemptions from two of its private credit funds after facing a surge in withdrawal requests.

Blue Owl’s stock ended 1.6% lower after briefly falling as much as 8.7% to a record intraday low. The company’s peers Blackstone Inc., Apollo Global Management Inc., KKR & Co Inc., Ares Management Corp. all also closed the session in the red.