Apollo Seeing Unprecedented Demand for NAV Loans, Tsitoura Says

Apollo Global Management Inc. is seeing “unprecedented demand” for net-asset value loans, according to Natalia Tsitoura, head of Europe origination for private debt at the firm, as private equity firms look to monetize investments they haven’t been able to sell.

Challenged valuations and the cost of borrowing in the wake of soaring interest rates have deterred disposals by companies, with mergers and acquisitions down about 34% this year to $1.9 trillion compared with the same period a year earlier.

That’s left some private equity firms turning to NAV loans, a type of borrowing where buyout firms raise money against ...