Apollo Plans New Trading Marketplace for Private Credit, Bloomberg Reports

What's happening: Bloomberg reports Apollo Global Management is developing the first-ever marketplace for trading private credit assets, aiming to bring real-time pricing and increased liquidity to a traditionally opaque market.

Why it matters:

• Innovation: First platform of its kind to bring public market-style trading to private credit

• Scale: Could transform the $1.6 trillion private credit market by making assets more liquid

• Access: Opens private credit markets to a broader range of investors, including retail

The key moves:

• Partnerships: Apollo is in talks with banks, exchanges, and fintech firms to build infrastructure

• Trading: Already traded $2 billion of originated products with 60 active clients

• Talent: Hired John Maggiacomo from RBC Capital Markets to support the initiative

By the numbers:

• Market size: Private credit market currently valued at $1.6 trillion

• Origination: Apollo originated $222 billion in loans last year

• Current reach: Platform has approximately 60 active clients

Key players:

• Eric Needleman: Head of Apollo Capital Solutions, leading the marketplace initiative

• TPG Angelo Gordon: Early trading partner with Apollo on the platform

• State Street: Partnering with Apollo on ETF development for public and private credit

Key quotes:

• Vision: "We're focused on building a true marketplace — open architecture, collaborative, and built for scale" - Eric Needleman

• Demand: "There's a clear use case and demand for secondary markets to develop in these instruments" - Brendan McCaffrey, TPG Angelo Gordon

The wrap: Apollo's move to create a private credit marketplace represents a significant shift in financial markets, potentially transforming how private debt is traded while positioning the firm at the center of the growing convergence between public and private markets.