Apollo, BNP Paribas Near Deal on European Private Credit Tie-Up

Apollo Global Management Inc. and BNP Paribas SA are nearing a deal to partner up in Europe’s private credit market, people with knowledge of the matter said.

Under the agreement, the two firms will arrange loans to corporate and private equity clients in Europe, said the people, who weren’t authorized to speak publicly. They didn’t specify the size of the deal.

Apollo, which inked a $25 billion dealwith Citigroup Inc. in 2024 to target North American borrowers, is seeking to export the formula to Europe. Apollo said that though it “has a great relationship with BNP, particularly here in ...