Why Is Apollo Stock (APO) Down despite Largest Japanese Investment in $3.7B NSG Takeover?

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Apollo Global Management’s APO -1.38% ▼ shares fell early Tuesday despite the firm’s managed funds making their largest private equity investment in Japan: an almost $3.7 billion take-private deal for glassmaker Nippon Sheet Glass NPSGF -0.63% ▼ .

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APO stock fell as the asset manager, like Morgan Stanley MS +1.77% ▲ , imposed limits on withdrawals from its flagship private credit fund. This further underscored jitters among fund providers about the trend of retail investors dumping publicly traded private credit funds.

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