Secondaries have become a core allocation for modern private market portfolios — they can offer vintage and manager diversification, and the potential for attractive risk-adjusted returns and more consistent capital distributions.
Co-Heads of Apollo S3 Sponsor & Secondary Solutions Steve Lessar, Veena Isaac, and Konnin Tam break down how the asset class has evolved and why it's become a core allocation for sophisticated private market investors.
Credit markets are entering a period of transition. At Apollo’s 2026 Credit Annual Meeting, partners across the firm discussed the technological disruption, refinancing pressure from higher rates and geopolitical uncertainty that are beginning to drive greater dispersion across sectors, borrowers and capital structures.
Equity | Market Insight
Beyond the Middle Market: Private Equity Investing for a More Demanding Regime
As private equity evolves and advantages in the middle market become less reliable, scale, specialization and portfolio construction are becoming key drivers of performance in a more competitive environment.
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In our second Convergence episode on the merging of private and public credit markets, partners Brian Weinstein and John Cortese unpack how rapidly shifting conditions are reshaping where and how investors find opportunity. With AI-driven disruption, geopolitical events and other dynamics in play, what looked like a more straightforward buyer’s market just months ago has evolved into a more nuanced market defined by dispersion, complexity and the need for deeper underwriting.
