SPICE Protocol
6K posts

SPICE Protocol
@SpiceProtocol
SPICE provides risk coverage infrastructure to enable secured lending to global private credit.


⚠️Private credit stocks are getting crushed: Shares of Blue Owl Capital have fallen -33.2% year-to-date, far underperforming the S&P 500's +6% gain. Furthermore, Apollo Global Management, Blackstone, and Ares Management have all dropped between -8% and -20% over the same period. This selloff comes alongside surging investor withdrawal requests from large private credit funds, which rose +$4.3 billion in Q2 2026, or +56%, to $12 billion. All while new sales of business development companies (BDCs), the primary vehicle for retail private credit investing, dropped -74% YoY in April, to just $1.6 billion, the lowest monthly total since May 2023. Stress in the private credit market is rising, and stock prices are reflecting it in real time.



















