Apollo, Blackstone Say Private Credit Fear Masks Reality

Blackstone Inc. and Apollo Global Management Inc. brushed off mounting concerns about the $1.8 trillion private credit industry, saying the perceived risks don’t reflect what they’re seeing on the ground.

“There is a big disconnect between the headlines and the news cycle and what we see in the portfolio,” Blackstone’s co-chief investment officer Kenneth Caplan said at the Asia Pacific Financial and Innovation Symposium in Melbourne on Thursday, adding the firm’s portfolio has “very low levels of default.”