Apollo Is Providing Financial Backing for Celsius Network Bidder

Apollo Global Management Inc. is providing financial backing to a company bidding for bankrupt lender Celsius Network’s assets, according to a person familiar with the matter.

Apollo, one of the world’s biggest alternative asset managers, is a capital partner for NovaWulf Digital Management’s bid, according to the person, who asked not to be identified because the matter is private.

News site CoinDesk first reported Apollo’s involvement.

NovaWulf, a New York City-based investment manager, is one of several parties bidding for Celsius’s assets alongside a consortium that includes crypto exchange Gemini Trust, court documents show. The ...