Asset Manager Shares Sink as Blue Owl Curbs Fund Redemptions (1)

Shares of alternative asset managers tumbled on Thursday after Blue Owl Capital Inc. restricted withdrawals from one of its retail-focused private credit funds, a fresh blow to a sector that’s faced heightened scrutiny in recent weeks.

Blue Owl shares closed 5.9% lower, while peers Ares Management Corp., Apollo Global Management Inc., Blackstone Inc., KKR & Co Inc. and TPG Inc. also plunged.

Blue Owl’s decision highlights a key risk for retail investors drawn to private credit: such funds offer less liquidity than public markets, and firms can block their investors from cashing in.

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