Citi Widens Private Credit Net Beyond Apollo Deal With New Role

Citigroup Inc. is casting a wider net in the multitrillion-dollar private credit market with a new hire who will source debt deals beyond the scope of its existing tie-up with Apollo Global Management Inc.

The bank is hiring Aashish Dhakad from Ares Management Corp. to become head of private credit origination for North America, a new role focused on sourcing deals from corporate and commercial banking clients for private credit investors, it said Monday in a memo seen by Bloomberg News.

The Wall Street lender is looking to broaden its reach in private credit beyond acquisition financing, which is the ...