The troubled private credit funds, by most any measure, are a sliver of the assets of investing giants KKR & Co., BlackRock Inc. and Apollo Global Management Inc.

Yet as the firms’ most outward-facing vehicles during the $1.8 trillion market’s turbulent 2026, they’ve become outsized reputational stains as investors assess problems across the industry. Now, each asset manager is taking steps to address them, albeit with different tools.