The View From Apollo Allocation Insights: Asset-Backed Finance Is the Engine Behind Private Credit’s Next Chapter
42 snips
Feb 17, 2026 Michael Paniwozik, Partner and Global Head of Structured Credit Investing at Apollo, leads the firm’s asset-backed investing efforts. He explains what asset-backed finance is. He highlights the asset types involved. He contrasts asset-backed benefits with corporate credit. He outlines Apollo’s origination and alignment approach and how this strategy complements direct lending.
AI Snips
Chapters
Transcript
Episode notes
Consider Private Markets For Rebalancing
- Rebalance public 60/40 exposures by allocating to private markets like asset-backed finance and private credit.
- Use private equity, secondaries, and real assets to diversify stretched public valuations and tight spreads.
Asset-Backed Finance Defined
- Asset-backed finance is capital structure around diversified pools of assets that generate principal and interest cash flows.
- Investors lend against those pooled cash flows rather than a single corporate balance sheet.
Consumer Pools Provide Continuous Flow
- Consumer assets include credit cards, auto loans, student loans and other retail loans with daily origination.
- These assets provide continuous flow, allowing ongoing assessment and deployment onto balance sheets.