Senior executives at major alternative asset managers including Apollo Global Management, Blackstone, Ares Management and KKR have moved to reassure investors that their portfolios remain resilient, as a sharp sell-off in listed software stocks continues to pressure their own share prices, according to a report by Reuters.
Investor concerns have centred on whether advances in artificial intelligence could disrupt software business models and, by extension, the private credit and equity portfolios backing them. While alternative asset managers have stressed that software represents a relatively small share of assets under management, their stocks have continued to slide in recent months despite strong fundraising and a pickup in deal activity.
Executives have used recent earnings calls to underline limited exposure and portfolio diversification. Apollo Chief Executive Marc Rowan said software accounts for less than 2% of the firm’s overall assets, while Ares said around 6% of group assets are in software, with only a small portion viewed as at high risk from AI disruption. At KKR, software exposure reportedly stands at roughly 7% of the portfolio.
