Apollo Lending Arm Raises $800 Million in Private-Credit Push

Apollo Global Management Inc.’s lending arm, MidCap Financial, raised more than $800 million this year from a group of global investors as demand for private credit surged.

The money -- from pensions, sovereign wealth funds and Apollo clients -- will be used to expand MidCap’s business, the company said Thursday in an emailed statement. The unit, which oversees or provides services for about $30 billion of commitments, focuses on financing real estate, middle-market companies and corporate takeovers led by small private-equity firms.

Private-credit firms are in the market seeking to raise a record $301.4 billion, according to London-based research ...