More than $830bn of Apollo Global Management credit assets will shift to daily pricing by end-September, the firm said on its first-quarter earnings call on Wednesday.
The move is intended to improve transparency in private-markets credit funds, where assets are typically illiquid and do not usually change hands frequently.
Apollo manages more than $1tn in assets and has been expanding efforts to add liquidity and price visibility in the roughly $1.8tn private-credit market.
With private credit defaults rising, will one firm’s daily pricing be enough to prevent a wider systemic crisis?
Can daily pricing for illiquid credit create dangerous market volatility instead of solving the transparency problem?
Apollo’s $938 Billion Private Credit Portfolio Moves to Daily NAV Reporting: A Game-Changer for Transparency and Liquidity
Overview
In April 2026, Apollo Global Management announced a groundbreaking shift to daily net asset value (NAV) reporting for its $938 billion private credit portfolio, addressing long-standing investor frustrations over opaque and infrequent pricing. This move followed liquidity pressures highlighted by BlackRock's March 2026 withdrawal freeze amid redemption spikes, and growing concerns about rising borrower defaults, especially in vulnerable sectors like software facing AI disruption. Apollo’s initiative integrates third-party valuations, advanced data infrastructure, and leverages its active secondary market and innovative products like the State Street PRIV ETF to enhance transparency and liquidity. While competitors remain cautious, Apollo aims to lead industry transformation amid increasing regulatory scrutiny and evolving investor demands.