Citigroup, Apollo Partner For $25B Private Credit Program, Expanding Corporate Lending Access
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 26 2024
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Source: Benzinga
Citigroup and Apollo Partnership: Citigroup has partnered with Apollo Global Management to launch a $25 billion private credit and direct lending program, initially focused on North America, aimed at enhancing access to private lending for corporate clients.
Strategic Goals and Participation: The collaboration combines Citi's banking expertise with Apollo's capital resources, expecting to finance significant debt opportunities while involving Mubadala Investment Company and Apollo’s subsidiary Athene as strategic partners.
Analyst Views on APO
Wall Street analysts forecast APO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for APO is 162.77 USD with a low forecast of 136.00 USD and a high forecast of 186.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
12 Buy
1 Hold
0 Sell
Strong Buy
Current: 139.530
Low
136.00
Averages
162.77
High
186.00
Current: 139.530
Low
136.00
Averages
162.77
High
186.00
About APO
Apollo Global Management, Inc. is a global alternative asset manager and a retirement services provider. It operates through three segments: Asset Management, Retirement Services and Principal Investing. The Asset Management segment focuses on three investing strategies: yield, hybrid, and equity. These strategies reflect the range of investment capabilities across its platform based on relative risk and return. The Retirement Services business is conducted by Athene Holding Ltd (Athene), a financial services company that specializes in issuing, reinsuring, and acquiring retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. Athene product lines include annuities and funding agreements. The Principal Investing segment includes realized performance fee income, realized investment income from its balance sheet investments, and certain allocable expenses related to corporate functions supporting the entire company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
