The Institutional Risk Analyst

Several major private credit firms capped investor withdrawals this week, as an accelerated exit wave hit the industry. Firms typically limited redemptions to their customary 5% quarterly threshold. The Ares Strategic Income Fund capped withdrawals at 5% after receiving requests to redeem 14.4% of shares. And Apollo's flagship $26 billion retail-focused fund curbed redemptions at 5% after investors attempted to cash out 16.8% of their holdings.

Without profits from commissions and capital markets, BAC would have reported a down quarter due to higher funding and operating expenses.

Despite what Joe Biden says about helping Americans with the soaring cost of housing, he really protects Black Rock (BK), Pimco et al