2026-03-19
36 分钟Shares of KKR and Blue Owl were down as much as 10% yesterday.
The private credit side of the business has seen a real sentiment shift.
Apollo, Aries, Blue Owl, and KKR are seeing significant declines.
People are getting worried about private credit.
Keeping an eye on shares of Blue Owl,
you can see it and other alternative asset managers' stocks have been under pressure.
In February, Blue Owl, a giant Wall Street lender, was forced to ban withdrawals
from a private credit fund as investors clamored to get their money back.
The move did reignite concerns around liquidity and valuation for many private credit vehicles.
It's just the latest sign of alarm among America's corporate borrowers.
Two high-profile bankruptcies in the auto finance space
have led to a broad-based sell-off in the publicly traded alternatives firms.
Last October, two auto companies declared bankruptcy.
Tricolor and First Brands bankruptcies shed a new light on the risks of over-leverage and subprime borrowers.
The private credit market has expanded dramatically over the past few years,
becoming a major source of lending, especially to risky borrowers.
And now, against a backdrop of AI disruption and surging energy prices,
private credit is adding to the wider turmoil.
As we continue Operation Epic Fury, we're also focused on keeping energy and oil flowing to the world.
Previous energy shocks, like the oil crises of the 1970s, led to a wave of corporate defaults.