Apollo to Lend Over $4 Billion to Struggling Buyout Firms (1)

Apollo Global Management Inc. is poised to sign more than $4 billion in so-called NAV loans, as the asset manager steps up unorthodox lending to private equity firms looking to raise cash in a challenging high-cost environment.

Some of the transactions include multiple loans of more than $1 billion each, people familiar with the matter said, asking not to be identified discussing confidential information. Net asset value financing allows PEs to borrow against a pool of their portfolio companies, and helps them to return money to investors.

PE firms — and private credit firms — have ramped up their use ...