Apollo Sets Its Sights on Doubling Assets with an Aggressive Push into Private Credit
Move over, Midas — Apollo has discovered that turning everything into debt is the real golden touch. The private equity leader plans to double its assets under management from $700B to a staggering $1.5T by 2029. Their strategy hinges on the rapid growth of private credit, which companies increasingly prefer over rigid loans from traditional banks.
- In the next five years, Apollo aims to originate $275B in debt annually — nearly matching JPMorgan’s 2023 debt and securitization volume of $268B.
- Once focused on leveraged buyouts, Apollo now sees lending opportunities in sectors with trillion-dollar capital needs, like utilities, data centers, and renewable infrastructure, which require customized financing traditional banks often can’t provide.
Banking on insurance: Apollo’s ambitious growth is supported by insurance and acquisitions. Athene, Apollo’s life insurance arm, offers a steady stream of policyholder funds for investment. Additionally, Apollo is expanding its reach by acquiring specialized lenders, like Credit Suisse’s securitized products unit. As Apollo ascends to new financial heights, this Greek-named titan is penning an epic to rival Homer’s tales — an “Odyssey of Debt.”
