Apollo Global Management asserts that the perceived risks in private credit are overstated, highlighting that 95% of the $4 trillion market comprises investment-grade loans, challenging concerns over lower-rated assets amidst increasing scrutiny of the asset class.
Apollo Global Management has stepped up its argument that investors are overstating the risks in private credit by overlooking how much of the market is made up of investment-grade lending rather than the leveraged loans that draw the most scrutiny.
In a LinkedIn post on 17 July, the alternative asset manager used a cupcake analogy to say that 95% of the roughly $4 trillion private credit market is investment grade, with only a small slice representing loans to heavily indebted borrowers. The point, Apollo said, is that the market is often judged by its most vulnerable corner rather than by the far larger universe of higher-quality assets.
The message fits a broader campaign by Apollo to position itself as a major provider of financing to companies and assets that support the real economy. On its investment-grade private credit page, the firm says about 80% of the more than $280 billion of credit it originated in 2025 carried investment-grade ratings, with an average rating of A. Apollo has also argued that this part of the market can offer wider spread premiums, lower historical losses and greater portfolio diversification than many public fixed-income alternatives.
Jim Zelter, Apollo’s president, has previously described investment-grade private credit as a significant growth area. In a Bloomberg interview, he said roughly three-quarters of Apollo’s assets sit in the investment-grade market. He has also said the firm now has 12 bank origination partnerships, including with BNP Paribas, Citigroup and Standard Chartered, underscoring how closely private credit and traditional lending channels are now interacting.
That positioning matters because private credit has become a more contested asset class as investors worry about liquidity, valuations and what a tougher economic backdrop could mean for lower-rated borrowers. Apollo’s argument is that those concerns, while not irrelevant, do not describe the market as a whole. The firm’s own materials frame its strategy as financing large corporates, sponsor-backed businesses and specialist lending platforms with flexible capital.
GuruFocus said Apollo’s shares were trading below its GF Value estimate, suggesting the stock may be undervalued, although the company’s price-to-earnings ratio remains well above its five-year median. The same analysis pointed to a solid overall GF Score, but also noted recent insider selling. For investors, that leaves Apollo with a message that is part reassurance, part sales pitch: the riskiest loans may attract the headlines, but the firm insists they are only a small part of a much larger and higher-quality market.
- https://www.gurufocus.com/news/8965426/apollo-global-management-highlights-investmentgrade-private-credit-market – Please view link – unable to able to access data
- https://www.apollo.com/strategies/asset-management/credit/investment-grade-private-credit – Apollo Global Management’s ‘Leading with Investment-Grade Private Credit’ page highlights that the private credit market is approximately $40 trillion, with the majority being investment-grade assets. The firm emphasizes the importance of this segment in financing companies and assets that underpin the real economy, noting that in 2025, about 80% of the $280+ billion of credit originated was investment-grade rated, with an average rating of A.
- https://www.apollo.com/insights-news/insights/2024/12/demystifying-the-opportunity-in-investment-grade-private-credit – In ‘Demystifying the Opportunity in Investment Grade Private Credit’, Apollo Global Management discusses the growing role of investment-grade private credit in the credit market. The article outlines potential advantages such as higher spread premiums, lower historical losses, enhanced seniority, and greater diversification within investment portfolios, suggesting that this segment offers attractive risk-adjusted returns.
- https://www.youtube.com/watch?v=5ElFjGcMpEA – In this Bloomberg interview, Apollo Global Management President Jim Zelter discusses the significant opportunity in investment-grade private credit. He mentions that about three-quarters of Apollo’s assets are placed in the investment-grade market, highlighting the firm’s focus on this segment and its potential for growth.
- https://www.youtube.com/watch?v=0zICLaJyZEI – In this comprehensive interview, Apollo’s Jim Zelter talks about the future of investment-grade private credit, emphasizing the importance of partnerships with banks. He mentions that Apollo has 12 origination partnerships with banks, including BNP Paribas, Citigroup, and Standard Chartered, to provide financing solutions to investment-grade companies.
- https://www.gurufocus.com/news/8965426/apollo-global-management-highlights-investmentgrade-private-credit-market – This GuruFocus article reports on Apollo Global Management’s statement that investors may underestimate the proportion of investment-grade assets in the private credit market. The firm uses a cupcake analogy to illustrate that 95% of the $4 trillion private credit market consists of investment-grade assets, cautioning against misjudging the small portion representing leveraged loans to highly indebted companies.
- https://www.apollo.com/strategies/asset-management/credit – Apollo Global Management’s ‘Credit’ page outlines the firm’s approach to private and public corporate credit and asset-backed finance markets. It serves as a financing partner for large corporates, sponsor-backed businesses, and specialty lending platforms, helping companies access flexible solutions at competitive costs to fuel their growth.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The article was published on July 17, 2026, and reports on a LinkedIn post by Apollo Global Management from July 17, 2026. The content appears to be original and not recycled from other sources. However, similar themes have been discussed in previous articles, such as a Bloomberg interview with Apollo’s president, Jim Zelter, from June 2025, where he highlighted the significance of investment-grade private credit. ([youtube.com](https://www.youtube.com/watch?v=5ElFjGcMpEA&utm_source=openai)) This suggests that while the specific content is fresh, the topic has been previously covered. Additionally, the article includes a link to the original LinkedIn post, enhancing transparency.
Quotes check
Score:
7
Notes:
The article includes a direct quote from Apollo’s president, Jim Zelter, regarding the firm’s investment-grade private credit strategy. This quote is consistent with statements he made in a Bloomberg interview from June 2025. ([youtube.com](https://www.youtube.com/watch?v=5ElFjGcMpEA&utm_source=openai)) However, the article does not provide a direct link to the original LinkedIn post, which would have allowed for independent verification of the quote. The absence of this link raises concerns about the verifiability of the quote.
Source reliability
Score:
6
Notes:
The article is hosted on GuruFocus, a financial news and analysis website. While GuruFocus provides financial news, it is not as widely recognized as major news organizations like the Financial Times or Reuters. The article cites a LinkedIn post by Apollo Global Management, which is a primary source. However, the lack of direct access to the original LinkedIn post and the reliance on a secondary source (GuruFocus) for reporting raises questions about the source’s reliability.
Plausibility check
Score:
8
Notes:
The claims made in the article align with known information about Apollo Global Management’s focus on investment-grade private credit. The firm’s president, Jim Zelter, has previously discussed this strategy in interviews. ([youtube.com](https://www.youtube.com/watch?v=5ElFjGcMpEA&utm_source=openai)) The article’s content is plausible and consistent with Apollo’s known business activities.
Overall assessment
Verdict (FAIL, OPEN, PASS): REVIEW
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The article reports on Apollo Global Management’s emphasis on investment-grade private credit, referencing a LinkedIn post from July 17, 2026. While the content is fresh and plausible, the reliance on a secondary source (GuruFocus) and the lack of direct access to the original LinkedIn post raise concerns about the article’s reliability and the verifiability of the quotes. Given these issues, a REVIEW verdict is recommended.