Apollo weighs 3 billion dollar private credit fund sale
Apollo Global Management is reportedly in talks to sell its publicly listed business development company MidCap Financial Investment for approximately 3 billion dollars. The potential divestment comes as the fund faces rising default rates and the broader private credit sector deals with increased redemption pressure.
APOLLO GLOBAL MANAGEMENT INC is in talks to sell its $3 billion private credit fund, MIDCAP FINANCIAL INVESTMENT. The fund, which focuses on midsize company loans, is valued at approximately $3 billion including its portfolio. Apollo and MFIC did not immediately respond to Reuters' request for comment.
### Shifting Strategy in Private Credit Apollo purchased MidCap in 2013 to strengthen its direct-lending platform in the United States. The fund currently invests in loans originated by MidCap Financial, which does not receive fee income from the loans it sells to MFIC, people familiar with the matter said.
