Apollo Took Loss on Asset-Backed Loan Deemed Protected

Apollo Global Management Inc. took a loss on a portion of a $170 million asset-backed financing for Amazon brand aggregator Perch that was wiped out, a rare stumble for a...

By Davide Scigliuzzo, Laura Benitez · Bloomberg Markets

Apollo Global Management Inc. took a loss on a portion of a $170 million asset-backed financing for Amazon brand aggregator Perch that was wiped out, a rare stumble for a strategy touted as one of private credit’s safest and most promising.