$APO is working w/5 banks, including $JPM $GS $C to trade private credit. The collaboration will enable Apollo & its partners to syndicate IG debt on a larger scale, w/ the banks acting as broker-dealers, Apollo has been also working to build a marketplace for private credit deals & to increase the number of buyers on the secondary market By syndicating loans through leading Wall Street players, Apollo gains greater balance sheet capacity & distribution power, allowing it to underwrite larger deals at a faster pace. It also enhances liquidity for individual investors, who increasingly allocate to alternatives but require more frequent redemption options than institutional LPs. Cerulli Associates: Retail investors are expected to become a much larger purchaser of alternative investments like private credit & financial advisers will increase their holdings of such investments from $1.4T to $2.5T by the end of 2025.