BREAKINGVIEWS-Battle brews to drag private credit out of shadows

Apollo Global Management Inc
Blackstone Inc.

Apollo Global Management Inc

APO

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Blackstone Inc.

BX

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Jonathan Guilford

NEW YORK, June 16 (Reuters Breakingviews) - Apollo wants a venue with daily pricing of murkily valued non-bank loans, which could make it easier for investors to sell. Pimco and others worry low volumes would distort the figures. Although illiquid IOUs are a mere $20 bln market, the fiery fracas will come to a head soon.

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CONTEXT NEWS

Apollo Global Management CEO Marc Rowan said on May 6 that the investment firm he runs would begin to report daily pricing of its direct lending and asset-backed finance assets to fund investors.


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