ICE Launches Private Credit Data Platform with Apollo

Intercontinental Exchange, Inc., the parent company of the New York Stock Exchange, has announced the launch of a new platform designed to bring greater transparency to the private credit market. The move comes as investor sentiment toward the asset class has weakened due to concerns regarding valuations and data clarity, issues that were highlighted by the recent bankruptcies of auto-parts supplier First Brands and car dealer Tricolor.

The new product, branded as ICE Private Credit Intelligence, aims to provide a secure environment for firms to share deal information with approved partners using a standardized data set. By utilizing technology to extract key terms from deal documents, the platform is expected to streamline data distribution and minimize the risks associated with handling sensitive information. Over time, the platform plans to add new tools, including performance analysis and pricing insights, to support portfolio management and risk assessment.