The $25 billion business development company, Apollo Debt Solutions (APODS), capped withdrawals at 5% of outstanding shares Monday after clients sought to redeem 11.2%, according to a shareholder letter seen by Bloomberg, thus gating more than half of the redemption requests.

Maybe this is just the new normal.

I'm curious where all this money goes? Are they just going to sit in cash? It's not like silver, gold, or commercial real estate are looking so hot right now.