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Some of Apollo Global Management Inc's transactions reportedly include multiple loans worth more than $1 billion each.
Private equity firms — and private lending firms — have increased their use of NAV financing as traditional borrowing options dry up with the end of the era of cheap debt and easy deals.
The New York-based giant NAV's expansion of its financial capabilities also shows how it is taking more steps to become an "alternative asset manager" by offering choice in contrast to Wall Street banks, which reduce risk.
The loans will come in part from Apollo's sponsorship and support business, known as S3, as well as other divisions, some sources said.
Apollo is expanding its presence in direct lending and structured lending through the growth of its Athene insurance division.
