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Apollo ups headcount in Europe on private credit boom

Apollo Global Management Inc is planning to continue increasing its headcount the UK and Europe as it looks to capitalise on a boom in private credit activity in the region, according to a report by Bloomberg. 

Apollo Global Management Inc is planning to continue increasing its headcount the UK and Europe as it looks to capitalise on a boom in private credit activity in the region, according to a report by Bloomberg. 

With Wall Street banks and other traditional financiers tightening their lending belts in the face of challenging macroeconomic conditions, the New York-based firm has been providing more credit to back buyout deals. And it’s proving to be a lucrative business, according to co-president Jim Zelter.

Speaking in a Bloomberg TV interview on Thursday, Zeiter said: “For 10 years you were not getting paid much to be a lender. Now, you’re getting paid north of 10%, depending on the type of company on leverage finance.”

Apollo has doubled its staff in London and on the continent over the last three to four years, and Zeiter said the company “expects that trend to continue”.

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