Apollo International Administration originated a document $40bn (£32bn) of personal credit score within the first quarter of this yr, serving to its income rise by 26 per cent.
The choice asset administration large noticed its adjusted web earnings improve to $1.06bn, boosted by increased administration charges and the expansion of its non-public credit score enterprise.
Learn extra: Apollo launches Mubadala-backed non-public credit score fund
Apollo reported that its direct origination portfolio returned 3.9 per cent within the first three months of the yr, whereas it structured credit score portfolio elevated by 3.8 per cent.
Company credit score returned 2.9 per cent and its hybrid worth portfolio elevated by 4 per cent.
Complete property underneath administration elevated by 12 per cent year-on-year to $671bn, which incorporates $501bn of credit score property.
Learn extra: Apollo targets €1bn for European actual property debt fund
“Capital formation and origination exercise within the quarter have been strong, with inflows and debt origination quantity every totaling $40bn,” stated Marc Rowan, chief government at Apollo.
“With seen momentum throughout the platform, we’re assured in our skill to ship on our monetary targets for the yr.”
Apollo has been capitalising on the stratospheric development of personal markets, each within the institutional and wealth channels.
Final month, the agency’s co-president James Zelter stated that monetary markets are present process a “huge transition” as use of personal credit score choices begins to outstrip financial institution financing.
