Citigroup Inks Deal to Form Private Credit Program With Apollo

Citigroup Inc. (C) and Apollo Global Management Inc. (APO) have inked a deal for a subsidiary of Citigroup and certain affiliates of Apollo to establish a revolutionary $25-billion private credit, direct lending program. The program will initially focus on North America, potentially expanding to additional geographies. Both companies expect the program to finance approximately$25 billion of debt opportunities over the next several years, including corporate and financial sponsor transactions.  Citigroup an ...