Private Credit Boom May Surge to $15 Trillion, Marathon CEO Says [BNN Bloomberg (Canada)]
Apollo Global Management, Inc. (New) (APO)
Last apollo global management, inc. (new) earnings: 5/1 07:00 am
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Source: BNN Bloomberg
“It's going to be $15 trillion, that same sector in the next eight to 10 years, which is a really big number,” Richards said Thursday at an event at New York University's Stern School of Business. Private credit has taken off in recent years, filling a gap as banks stepped back from some risky lending amid tightening regulations. Growth in the industry has accelerating amid strong demand from investors including pension funds, endowments and insurers. Richards — who is chief executive officer at Marathon, with about $23 billion under management — estimates the market's true size today may be closer to $3 trillion when leverage is taken into account. Meanwhile, with asset-backed lending becoming a greater part of the private credit playbook, that subsector could grow as much as 40% a year to become a $6 trillion market, he said. It will be “as big as direct lending when you project out a few years from now,” said Richards. When so-called LME trades are taken into account — or li
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APO
Earnings
- 5/2/24 - Beat
APO
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- 6/24/24 - Form 4
- 6/14/24 - Form 4
- 6/5/24 - Form 4
- APO's page on the SEC website