Key Takeaways
- • Apollo Global Management plans to spend around $350 million to enhance its private credit trading business, according to Bloomberg.
- • The investment is aimed at bringing greater price transparency and additional liquidity to the traditionally opaque private credit sector.
- • The trading business will offer more data on private-credit positions and will be mostly based in Austin, Texas.
- • Apollo president Jim Zelter disclosed the plans on a Tuesday analyst call.
Summary
Apollo Global Management Inc. plans to spend around $350 million to enhance its private credit trading operations, as part of the firm's ongoing efforts to bring price transparency and additional liquidity to the private credit market, according to Bloomberg. The initiative is aimed at a segment of the market that has historically been difficult for investors to price, given the limited public disclosure around private credit positions.
According to the report, Apollo's trading business will offer more data on the traditionally opaque private-credit investments it holds and trades. The operation will be mostly based in Austin, Texas. Firm president Jim Zelter outlined the plans on Tuesday during a call with analysts.
The report did not provide a detailed breakdown of how the $350 million will be allocated, nor a timeline for the buildout. Readers should treat the figure as an approximate amount as stated by the firm's leadership on the analyst call.
According to the report, Apollo's trading business will offer more data on the traditionally opaque private-credit investments it holds and trades. The operation will be mostly based in Austin, Texas. Firm president Jim Zelter outlined the plans on Tuesday during a call with analysts.
The report did not provide a detailed breakdown of how the $350 million will be allocated, nor a timeline for the buildout. Readers should treat the figure as an approximate amount as stated by the firm's leadership on the analyst call.
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