Citi and Apollo will handle loan portfolio with capital from insurance annuity company Athene and Abu Dhabi’s Mubadala Investment Co.

Citigroup and Apollo Global Management are teaming up in the fast-growing private credit market, agreeing to work together on $25 billion worth of deals over the next five years. The two Wall Street heavyweights have struck an exclusive partnership to arrange financings for corporate and private equity clients,

The programme can expand to more geographies and stretch beyond the US$25 billion target. Read more at straitstimes.com.