Citi and apollo announce $25 billion private credit, direct lending program

New york--(business wire)--citigroup inc. (nyse: c) and apollo (nyse: apo) today announced that they have entered into an exclusive agreement for a subsidiary of citi and certain affiliates of apollo to form a landmark $25 billion private credit, direct lending program initially in north america, with the potential to expand to additional geographies. the program will include participation from mubadala investment company as apollo's strategic partner as well as apollo's subsidiary, athene, bot.
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