Apollo Steps Up Private Credit Reform Push

Welcome to Going Private , I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we look at Blackstone’s capital injection into troubled borrower Medallia , fresh launches and accelerating growth in credit secondaries and a blistering attack on financial advisers from one of private credit’s biggest foes. But first we explore Apollo’s multi-pronged efforts to transform private markets. If you’re not already on our list, sign up here . Have feedback? Email us at goingprivate@bloomberg.net

Apollo’s mission to reboot confidence in private markets hit a milestone this week after it committed to provide daily pricing on its entire $830 billion credit book by end-September.

“Trust and reputation now more than ever necessitates greater transparency on fund pricing for fund investors,” Chief Executive Officer Marc Rowan told an analyst conference call. “When public markets reprice, private markets should too,” he added.