Apollo Global Management has been selected to manage Singapore’s $1bn Private Credit Growth Fund, a state-led initiative aimed at providing non-dilutive capital to high-growth local enterprises.

The mandate, confirmed via Singapore’s government procurement portal, places Apollo at the centre of the city-state’s latest push to position itself as Asia’s private debt capital.

Launched in March 2025 by the Ministry of Trade and Industry and Enterprise Singapore, the Private Credit Growth Fund targets mid- and late-stage companies with bespoke financing solutions that preserve founder equity. The programme was introduced as part of Singapore’s 2025 budget and reflects broader efforts to deepen the nation’s private capital markets infrastructure.

Further details on the fund’s deployment strategy are expected by Q3 2025, alongside a separate regulatory review from the Monetary Authority of Singapore exploring access to private markets for retail investors.

Apollo’s appointment marks a significant win in the global private credit space, where institutional demand continues to rise. The market now exceeds $1.7tn globally, with Asia viewed as a key growth region for alternative lenders.

This move not only expands Apollo’s footprint in Southeast Asia but also underscores Singapore’s commitment to fostering public-private collaboration in the private equity and credit ecosystem.

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