Apollo Global Management expands lending as debt-market turbulence lifts fees

Apollo Global Management expands lending as debt-market turbulence lifts fees
Apollo boosts lending fees

Rising volatility in global debt markets is supporting loan demand for large private credit providers in the third quarter. Apollo Global Management says its new lending reaches a record level over the period, helping lift fee income and margins as it pushes further into financing for blue-chip companies.

Highlights

  • Apollo Global Management lent $114 billion in Q3, over 50% higher than the prior quarter and year-earlier period.
  • Apollo's capital solutions unit generated 37% more fees than the same quarter of 2025, driven by increased lending activity.
  • Total fee-related earnings rose 23% to $820 million, as robust lending volumes boosted Apollo's margins amid market volatility.

Record third-quarter lending growth

As reported by Bloomberg, Apollo offers borrowers $114 billion in the three months through September, more than 50% higher than in both the prior quarter and the year-earlier period.

The increase underscores the firm’s expanding role in private credit at a time when market turbulence is reshaping funding conditions for corporate borrowers. Apollo is also positioning its capital solutions business to extend more loans to large, established companies.

Fee gains strengthen earnings profile

The capital solutions unit generates 37% more fees than in the same quarter of 2025, reflecting stronger lending activity and improved economics on new business.

Total fee-related earnings climb 23% to $820 million, indicating that the higher volume of lending is feeding through to Apollo’s margins as debt-market volatility persists.

Our earlier article on third-quarter cybersecurity funding highlighted how total investment climbed to $6.8 billion largely because late-stage rounds got bigger, even as overall deal counts fell. We also noted that AI- and identity-security companies dominated fundraising and that major acquisitions signaled accelerating consolidation across the sector.

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