Zhi Tong Cai Jing·2026-02-13 13:25Core Viewpoint - Private equity firms are striving to convince investors that their portfolios are resilient against the recent sell-off in the software sector, driven by concerns over artificial intelligence undermining competitiveness in the industry [1] Group 1: Company Performance and Portfolio Exposure - Ares reported that approximately 6% of its overall assets are invested in software companies, with a diversified portfolio minimizing exposure to AI-related risks [2] - Apollo Global Management has less than 2% exposure to the software industry, with its private equity business having nearly zero exposure [2] - KKR has about 7% of its portfolio in the software sector, while Blue Owl has 8%, both experiencing significant stock price declines of 29% and over 36% respectively in the past six months [3][6] Group 2: Market Reactions and Investor Sentiment - Despite strong financial performance, private equity firms have seen stock sell-offs, with one firm experiencing a nearly 6% drop this week and an 11% decline over the past six months [3] - Concerns about excessive investments in AI by alternative asset management firms have led to fears of potential losses if AI fails [6][7] - Analysts suggest that the narrative around alternative asset management firms suffering losses due to AI's transformative impact may be flawed, indicating a potential misjudgment in market sentiment [7]