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An link between Leon Black and Jeffrey Epstein cast a shadow over Apollo.
The Scandinavian investment giant had conducted a strategic review of its credit business last year.
The rise of private credit has changed the shape of private equity investing and necessity suggests it is here to stay.
As an example of the practice surfaces, an industry body is warning other companies not to use the covid-19 outbreak as an excuse to try and raise additional finance through flexible documentation.
As in the last major crisis, non-bank lenders will be expected to displace the banks as a source of finance.
Market dislocation
A number of GPs are using flush balance sheets to seed their own distressed debt funds, according to firm head Michael Rees.
Chinese pharmacy
Deal sourcing will be led by Peng Fu, a former MD at Chinese investment manager Fosun, according to an investor email seen by PEI.
Fewer covenants can provide greater flexibility in dealing with portfolio company difficulties, but they may also prevent lenders from negotiating rescue plans with borrowers and sponsors. Andy Thomson and Andrew Hedlund investigate
The firm is also on track to open offices in Paris and Sydney before the end of March, according to its latest earnings announcement on Thursday.
The firm will invest throughout the capital structure after previously being a senior debt-only shop.

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