Apollo’s Rowan Sees Market Makers Coming for Private Credit

Apollo Global Management Inc. Chief Executive Officer Marc Rowan said he expects to see more market makers emerging for investment-grade private credit as firms seek to ramp up trading of the assets.

“Most of the issuers are public companies,” and for some of these issuers, their public and private bonds have similar trading volumes, quotes and spreads, Rowan said at the Goldman Sachs Financial Services Conference this Wednesday. “I think markets are going to trade.”

In February, Apollo announced plans to build a marketplace to enable it to trade and syndicate the debt it originates on a bigger scale and ...