Apollo Global Management has been awarded the mandate to manage Singapore’s $1bn Private Credit Growth Fund, a government-led initiative designed to provide non-dilutive financing to high-growth local enterprises, according to a report by Bloomberg.
The win was confirmed via Singapore’s government procurement portal.
Launched by the Ministry of Trade and Industry and Enterprise Singapore in March, the Private Credit Growth Fund is part of a broader national strategy to establish Singapore as a hub for private debt in Asia. The fund, announced during Singapore’s 2025 budget speech, aims to address capital needs of mid-to-late stage growth companies by offering bespoke credit solutions, without diluting ownership.
Further details of the fund are expected to be unveiled by Q3, as authorities also work to develop a new regulatory framework to open private markets to retail investors — an initiative currently under consultation by the Monetary Authority of Singapore.
Apollo’s appointment underscores Singapore’s deepening commitment to the $1.7tn global private credit market, where demand continues to rise among alternative asset managers and institutional investors.
