Apollo Global Management has made its first dedicated hire for its $1bn private credit strategy in Singapore, according to a report by Bloomberg.

The firm has appointed Wei Ming Wong as principal. He will focus on originating and analysing deals for companies eligible to access the fund. Wong previously worked at Warburg Pincus.

The hire supports Apollo’s strategy to expand in Asia’s private credit market, where demand for non-dilutive financing solutions continues to grow.

The initiative is aligned with Singapore’s broader push to develop its private credit ecosystem. The government introduced a $1bn Private Credit Growth Fund to support high-growth local companies.

Asia’s private credit market has remained relatively insulated from recent volatility seen in the US. Market participants cite more conservative lending standards and lower exposure to software sector risks as key factors.

Singapore has emerged as a focal point for global asset managers looking to expand in private credit. Firms including IFM Investors and Sixth Street have recently established a presence in the city.

Apollo’s move highlights continued private equity interest in scaling private credit platforms in Asia, as firms seek to capture growth opportunities in the region’s expanding financing market.

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