Apollo trades more than $35bn of private credit
Apollo Global Management has traded more than $35bn of private credit since launching a market-making operation for the asset class, according to a report by Bloomberg citing comments made by the firm's co-head of corporate credit John Cortese.
Apollo Global Management has been actively trading more than $35 billion worth of private credit since establishing a market-making operation for the asset class, as reported by Bloomberg through comments from the firm's co-head of corporate credit, John Cortese. The trading desk has been handling approximately 500 assets with 160 counterparties, with around one-third of the transactions involving loans originated by other lenders instead of Apollo.
This activity is part of Apollo's broader strategy to enhance liquidity and transparency in the private credit market. The firm recently started offering daily valuations for its credit business, a significant shift from the traditional quarterly pricing. Cortese, who oversees Apollo's trading operations, highlighted that increased participation from various capital sources would necessitate greater liquidity and transparency.
Apollo's move towards market-making aims to make private credit more accessible to a wider investor base by providing greater visibility into the assets backing private credit funds. The firm is also involved in discussions to provide approximately $40 billion of financing to SpaceX for the acquisition of Nvidia chips.
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