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US equity futures edged lower on Thursday as escalating geopolitical tensions in the Middle East drove a sharp rally in crude oil prices. Despite the macro headwinds, shares of Bumble and Petco skyrocketed in premarket trading following robust earnings reports and optimistic forward-looking guidance.
Apollo Global Management CEO Marc Rowan has signaled a 'foreseeable' shakeout in the $1.8 trillion private credit market, citing excessive concentration in software sector loans. The warning comes as Apollo-affiliated MidCap Financial slashed its dividend by 18% following losses in its software-heavy loan book.
Blue Owl Capital has executed a $1.4 billion sale of private credit loans to three major North American pension funds and its own insurance asset manager. The transaction was designed to meet a critical deadline for returning cash to investors, highlighting the growing liquidity challenges in the $1.7 trillion private credit sector.
As traditional 60/40 portfolios face pressure from persistent market volatility, professional money managers are aggressively shifting capital into alternative asset classes. This strategic pivot focuses on private credit, infrastructure, and specialized real estate to capture illiquidity premiums and uncorrelated returns.