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Apollo Credit Management
Apollo Credit Management operates as the credit-focused arm of Apollo Global Management, a firm founded in 1990 by Leon Black, Josh Harris, and Marc...
Apollo Credit Management
Apollo Credit Management operates as the credit-focused arm of Apollo Global Management, a firm founded in 1990 by Leon Black, Josh Harris, and Marc Rowan. The group originated from Drexel Burnham Lambert's distressed-debt desk and grew into one of the largest alternative asset managers globally, with a emphasis on yield generation through credit markets. The investment strategy spans direct lending, structured credit, infrastructure debt, and real estate credit, targeting both performing and opportunistic situations. The firm is among the largest private credit managers worldwide, competing directly with Blackstone's credit business and KKR's credit platforms. Known holdings have included publicly traded debt positions in companies such as Charter Communications and energy infrastructure debt through its yield strategy. Geographically, Apollo focuses primarily on North America and Western Europe, with additional exposure in Asia. The firm manages capital through both committed funds and a large public permanent capital vehicle, Apollo Investment Corporation (AIC), which provides long-duration financing. In May 2024, the firm raised over $15B for its latest direct lending fund, one of the largest ever raised in private credit. The broader Apollo organization employs over 2,000 professionals across offices in New York, London, Los Angeles, Hong Kong, and other financial hubs, while the credit business shares these resources. Apollo's structural differentiator is its public-company permanence — no private equity firm has a larger credit franchise. Its ability to hold assets indefinitely through yield-oriented permanent capital vehicles, alongside traditional drawdown funds, gives it a distinct edge in providing financing where other lenders require exit timing.
General information
Firm type
null
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Joshua Harris
Co-Founder (former)
Marc Rowan
Co-Founder
Leon Black
Co-Founder (former)
Sector focus
Frequently asked questions
How does Apollo Credit Management source proprietary deal flow?
As part of Apollo Global Management, the credit group originates debt and direct lending deals through its large institutional relationships—particularly with middle-market companies and infrastructure sponsors. The firm is known for negotiating directly with management teams rather than relying solely on syndicated markets. Its scale allows it to lead large bilateral financings (per public record).
What investment stages does Apollo Credit typically target?
Apollo Credit focuses primarily on performing direct lending, structured credit, and opportunistic debt. It does not target early-stage venture debt but rather middle-market, large-cap, and infrastructure credit opportunities. The firm also engages in high-yield bond and distressed debt situations.
Is Apollo Credit Management structured as a single family office?
No—Apollo Credit Management is a registered investment adviser and the credit division of Apollo Global Management (NYSE: APO), a publicly traded alternative asset manager. It is not a family office, though some Apollo partners manage personal capital through separate entities.
Does Apollo participate in fund commitments or only direct deals?
Apollo Credit primarily invests through commingled funds, separately managed accounts, and its permanent capital vehicle (Apollo Investment Corporation). It also makes direct loans and participates in syndicated credit facilities, but its primary model is fund-based.
What sectors does Apollo Credit explicitly avoid?
While Apollo does not publish a formal exclusion list, it generally avoids small-cap venture debt and early-stage technology lending—areas where its yield-oriented model is less applicable. Its focus is on established companies with predictable cash flows.
How is Apollo Credit Management related to Apollo Global Management?
Apollo Credit Management operates as the credit-focused segment of Apollo Global Management. The broader organization includes private equity, real assets, and capital markets businesses; the credit group is the largest contributor to Apollo's overall AUM (per public filings).
Does Apollo maintain philanthropic structures, and how are they separated?
Apollo Global Management operates the Apollo Opportunity Foundation, a separate 501(c)(3) that focuses on economic inclusion and education. The foundation is funded by the firm and its partners, independent of its credit investment operations. However, Apollo itself does not have a single-family office foundation tied to individual founders.
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