Apollo Says Private Credit May Reach $40 Trillion by 2030 (1)

Apollo Global Managementsaid that a booming part of private credit is already a $20 trillion industry and that the market as a whole may reach $40 trillion within the next five years.

“We’re going to get there really soon,” Akila Grewal, Apollo’s global head of credit product, said in Bloomberg Intelligence’s latest Credit Edge podcast. “You’re going to see a lot more private credit offerings and strategies focused on asset-based” finance.

Apollo has an expansive view of what constitutes private credit, including everything from music royalties and inventory finance to infrastructure debt and agricultural lending. The asset-based ...