Economic Observation Network Jim Zelter, President of Apollo Global Management, characterized the incident in public comments as a "growing pains" for the industry or a "minor conflict on the periphery," rather than a structural crisis He emphasized that the rules restricting redemptions have been clearly stipulated in the fund documents, aimed at protecting the interests of all investors, and the company is fulfilling its entrusted responsibilities He pointed out that some distribution channels may not have fully conveyed the inherent liquidity risks of private credit assets to retail investors, resulting in a mismatch between short-term demand and asset liquidity ?

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