08:22 AM EDT, 09/20/2024 (MT Newswires) -- Apollo Global Management ( APO ) has secured a $5 billion commitment from BNP Paribas to deepen its reach into private credit, Bloomberg reported Friday.

BNP is providing funding for investment-grade, asset-backed deals originated by Apollo, as well as Apollo's Atlas SP arm acquired from Credit Suisse -- seen as central to Apollo's goal of building "a credit machine that rivals Wall Street banks," Bloomberg reported.

Neither Apollo nor BNP immediately replied to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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