Apollo Continues its Strong Push into Private Credit

To close valuation gaps, sponsors are turning more often to hybrid capital stacks with waterfalls, sponsor overhang, and various preferred stock structures.

Fractional AI is a San Francisco-based applied AI services company.

The alternative asset industry’s long-standing bargain — higher yields in exchange for opacity and illiquidity — is being dismantled piece by piece, and the firms moving fastest to replace it may define the next decade of the private market.