Bloomberg Talks Apollo President Talks Credit Market
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Nov 5, 2025 Jim Zelter, President of Apollo Global Management, dives into the dynamic world of credit markets and AI data center financing. He shares insights on Apollo's impressive asset growth and their strategic focus on proprietary origination. Zelter addresses the implications of recent bank failures, dismissing fears of a widespread credit crisis. He also emphasizes cautious investment in the booming AI data center sector, advising on smart positioning in rapidly changing tech assets. Tune in for a mix of market wisdom and finance strategy!
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Origination Trumps AUM
- Apollo views assets under management as a validation of performance, not the primary goal.
- Jim Zelter emphasizes scalable proprietary origination as the true driver of value.
Invest In Origination Platforms
- Invest in origination platforms to control deal flow and documentation.
- Zelter says institutions partner with Apollo for returns and proprietary origination capabilities.
Grading Credit By Risk Not Venue
- Apollo categorizes credit by investment grade versus non-investment grade rather than public vs private.
- Their origination mix is roughly 80% investment grade and 20% non-investment grade with mid-300s to mid-400s spreads.