Apollo Global Management Investor Day Presentation Deck
CLOS Provide a Critical Source of Capital to the US Corporate Sector
FINANCING A DIVERSE CROSS-SECTION OF INDUSTRIES AND COMPANIES
SOURCES OF FINANCING FOR
THE US CORPORATE SECTOR
PRIVATE-DIRECT MIDDLE MARKET LOANS, 4%
INSTITUTIONAL
LEVERAGED LOANS, 10%
HY BONDS, 11%
BANK LOANS, 19%
IG BONDS- BBB,
28%
IG BONDS -
RATED A AND
ABOVE, 28%
Note: Bloomberg and S&P/LCD as of March 31, 2022
APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022
CLOs have
grown to
fill a crucial
function
previously
served by
banks
PRIMARY PURCHASERS OF
NON-INVESTMENT GRADE LOANS
CLOS, 61%
OTHER, 27%
BANKS, 12%
CLOS ARE VITAL TO
THE ECOSYSTEM
DELL MEDLINE
●
Albertsons
●
Virgin
media
Univision
A DELTA
TXU Charter
energy
COMMUNICATIONS
T.G.L.L
FRIDAYS
DAVE
AND
D&B
TER'S
BU
• CLOS are a key avenue through which
investors lend to companies by
providing access to a diversified pool
of loans issued by over 1000 US
companies across sectors
CLOs own 65% of all USD bank loans
When CLO formation is disrupted,
credit is restricted to borrowers in the
bank loan market
BURGER
KING
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