Blue Owl Capital Limited Fund redemption triggers a large drop in the stock price of an alternative asset management company.

On February 19, the stock prices of alternative asset management companies collectively plunged. Blue Owl Capital's stock price closed down by 5.93%. At the same time, its competitors Warburg Management fell by 3.08%, Apollo Global Management fell by 5.66%, Blackstone fell by 5.37%, KKR fell by 1.85%, and TPG fell by 7.01%. The selling wave also affected Europe. With the decline in the U.S., CVC Capital Partners in Amsterdam fell by 3.26%, and Partners Group in Switzerland fell by 5.11%. Previously, Blue Owl Capital announced restrictions on redemptions for one of its private credit funds targeting retail investors. This decision by Blue Owl Capital highlights the core risk faced by retail investors entering the private credit sector: the liquidity of such funds is much lower than in the public market, and asset management companies have the right to prevent investors from cashing out.