Apollo Global Management is planning to introduce daily pricing for its private credit funds by the end of September, marking a significant shift toward greater transparency in a sector that has traditionally relied on quarterly valuations, according to a report by Reuters.
The move comes as the alternative asset manager reported total assets surpassing $1tn, driven by strong inflows and continued expansion across credit, insurance and asset management businesses.
Chief executive Marc Rowan said the change reflects growing demand from investors for more frequent and market-aligned pricing, arguing that private market valuations should adjust in line with public market movements. Apollo also stated that, where it holds positions alongside third parties, it will align marks to the lowest observable valuation.
For the first quarter, Apollo reported adjusted net income of $1.94 per share, slightly ahead of expectations, supported by a 30% increase in earnings from asset management and capital markets activity.
Despite solid operating performance, the firm highlighted pressure in parts of its asset-backed finance portfolio, including exposure linked to UK mortgage lender Market Financial Solutions, which collapsed earlier this year.
Direct lending returns were more subdued compared with prior periods, while broader private credit performance across the industry has faced increased scrutiny over underwriting standards and exposure to technology-related risks.
Apollo also reiterated its long-term growth ambition, targeting $1.5tn in assets under management by 2029, building on its expansion into insurance and hybrid capital strategies.
The firm reported $115bn in quarterly inflows, including contributions from retail wealth channels and its acquisition activity in the insurance sector. However, it also posted an accounting net loss driven by unrealised valuation adjustments in its insurance portfolio.
