Apollo Credit Management

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.

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.

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.

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).