Apollo Global Management has entered into a strategic partnership with KB Securities to explore private credit opportunities in South Korea, marking the global investment firm’s first collaboration with a local investment bank, according to Bloomberg.

Under the new agreement, KB Securities will receive preferential rights to participate in Apollo’s global credit transactions within Korea. The partnership aims to enhance KB’s capabilities in deal sourcing, financing, and structuring, while strengthening Apollo’s position in one of Asia’s fastest-growing private credit markets.

South Korea has become an increasingly attractive market for alternative lenders, driven by growing institutional and pension fund demand for private market solutions and rising financing needs among large family-run conglomerates.

Matthew Michelini, head of Apollo’s Asia Pacific business, added that this partnership will “bring more opportunities to address rising institutional and retirement-sector demand for private market solutions in Korea.”

Apollo, which opened its Seoul office last year, appointed Jay Hyun Lee as partner and head of Korea to lead its local expansion strategy. The collaboration with KB Securities builds on Apollo’s commitment to providing flexible capital solutions across the region.

With the private credit market in Asia gaining momentum, Apollo’s partnership underscores the growing role of alternative asset managers in supporting corporate financing needs and expanding access to non-bank capital in Korea.

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