Private Credit to Outperform in a Downturn, Apollo’s Zelter Says

McEwan joins Moelis & Co. from Citigroup, where he spent more than a decade in the firm’s mergers & acquisitions group.

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.

The trust will focus on data center assets benefiting from the AI boom, particularly those already built and income-generating through leases with large-scale cloud and technology providers.