Apollo Global Management has formed its first partnership with a South Korean investment bank, teaming up with KB Securities Co to pursue private credit opportunities in one of Asia’s fastest-growing alternative lending markets, according top a report by Bloomberg.
Under the agreement, KB Securities will gain preferential access to participate in Apollo’s global credit transactions within Korea. The collaboration aims to strengthen KB’s capabilities in deal sourcing, financing, and structuring, while expanding Apollo’s reach in the country’s burgeoning private credit space, according to a joint announcement and LinkedIn post.
The memorandum of understanding was signed last week in Seoul, underscoring Apollo’s growing commitment to the region following the opening of its Seoul office in late 2024 and the appointment of Jay Hyun Lee to lead local operations.
Private credit has gained traction in Korea as corporate borrowers, including major chaebol conglomerates, seek alternative funding amid tightening bank lending and property market headwinds. Firms such as SC Lowy Financial HK Ltd. have noted growing non-property lending opportunities across the country.
