Apollo plans to sell assets it originates to retail funds, ETFs
BNN Bloomberg
Apollo Global Management Inc. plans to expand its asset origination business to sell private credit to retail channels, including exchange traded funds, Chief Executive Officer Marc Rowan said.
The firm already sells its credit instruments to its Athene business and other insurers, as well as institutional investors.
“We built a third-party insurance business and then we built a third-party institutional business, a fixed-income replacement business, and you will watch us do this in retail,” he said at an industry conference Thursday. “You will watch us do this in interval funds. You will watch us do this in ETFs.”
Private asset firms are increasingly looking beyond traditional institutional investors such as pension funds and endowments for sources of capital amid a difficult fundraising environment. Blackstone Inc. and KKR & Co. are also building wealth units, while Carlyle Group Inc. is readying its first European private credit fund for wealthy individuals.
