Apollo shrugs off rate fears with surge in private credit loans
Lender originated $75bn in new loans in the third quarter, up 21% on last year
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In a tough year, private credit bosses are pointing fingers
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US companies use hot markets to slash borrowing costs on risky loans
Repricing activity hits record high of $153bn in July in latest sign of investor optimism
Apollo took bearish software view with bets against corporate debt
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Emerging market private credit surges to record $18bn
Lending booms in developing economies even as US industry struggles following collapse of First Brands
We must be mindful of the risks of private credit
The sector remains untested in a severe or prolonged economic downturn