Apollo in Talks to Sell $3 Billion Private Credit Fund Amid Portfolio Scrutiny

Apollo Global Management is in discussions to sell a $3 billion private credit fund. The talks involve a vehicle managed by the firm’s business development company, or BDC. The potential sale highlights ongoing shifts in the private credit market. Apollo’s publicly listed BDC, MidCap Financial Investment Corp., reported a $61 million loss last week. This loss adds context to the fund sale negotiations. The move comes amid increased scrutiny of private lending portfolios. Market participants are watching the deal’s outcome closely.