Deals
Citi, Apollo Join Forces in $25 Billion Private Credit Push
- Firms set one of the most ambitious goals in industry tie-ups
- Mubadala and Athene will also participate in new venture
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Citigroup Inc. and Apollo Global Management Inc. are teaming up in the fast-growing private credit market, agreeing to work together on $25 billion worth of deals over the next five years.
The two Wall Street heavyweights have struck an exclusive partnership to arrange financings for corporate and private equity clients, according to a statement seen by Bloomberg. Mubadala Investment Co. and Apollo’s insurance unit Athene will also participate in the venture, which will initially focus on North America.