Apollo Launches New Private Credit Fund Seeded by Mubadala
- Investors pay zero fees for the first full year of investing
- Mubadala added its head of credit investments to fund’s board
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Apollo Global Management Inc. has created a new private credit fund that will invest money from an affiliate of Mubadala Investment Co. and other institutional investors for no fee during the first year and waive half of the fees the following year.
The fund is structured as a business development company, and typically such vehicles tend to offer few to no fee breaks to its pool of retail and high net worth investors.