Private equity transactions are set to dip further as a dearth of financing and a protracted price discovery period will dent activity, according to senior executives at Carlyle Group Inc. and Apollo Global Management Inc.
Apollo’s Zelter said private credit has become a large part of the market now, including dollar-denominated low investment grade credits, which can generate mid to double-digit returns in 12 to 18 months. The best investment “vintages” would be 2023 and 2024, he said.
Apollo Global managed $515 billion of investments at the end of June in private equity to public and private debt.
Read more: BNN Bloomberg
