Apollo Global Management used the Barclays 24th Annual Global Financial Services Conference on Sept. 14, 2026, to detail its expanding private‑credit platform and AI‑enabled financing approach. Chief Economist Torsten projected the probability of a U.S. recession in the next 12 months at between 10% and 20%, well below 20%.
The firm highlighted a $75.68 billion market cap and a 41.4% revenue increase over the past twelve months. Its high‑grade capital solutions (ACS) platform has completed more than 200 transactions, deploying roughly $150 billion, while ACS revenue has topped $200 million for five straight quarters.
Apollo’s new Fund XI, launched in January 2024, closed its first round with $12 billion and will continue fundraising through late 2024 into early 2025. The fund targets a shift of 10%‑15% of traditional fixed‑income allocations into private assets, a move the firm likens to “pulling out of New York Harbor” and still being in the “first inning.”
The firm also discussed its Apollo Multi‑Asset Portfolio Solutions (AMAPS) program, which has issued five deals totaling about $25 billion. Roughly half of the capital, $12.5 billion, is retained on Apollo’s balance sheet, with the remainder placed with third‑party investors. AMAPS collateral is about 50% investment‑grade, contrasting with the 100% sub‑investment‑grade collateral typical of conventional CLOs.
Scott Kleinman, co‑president of Apollo’s asset‑management division, described the firm’s AI and infrastructure strategy as “selling the pickaxes to the gold miners,” emphasizing a “once‑in‑a‑generation” capital need across digital, energy, industrial and defense sectors. Investor sentiment toward Fund XI was characterized as “cautiously optimistic.”
Apollo also noted redemption caps of 5% per quarter for its ADS tender periods, aligning with industry conventions for semi‑liquid private‑credit markets. The firm’s broader portfolio includes stakes in Broadcom, NVIDIA, Intercontinental Exchange, EDF, BP, Air France, RWE and Athene.
