Private Investment Grade Credit: Why investors are scaling up their allocations to private markets
INTERVIEWSERIES
Joe Moroney, Partner, Co-Head of Global Corporate Credit and Head of Sustainable Finance, Apollo
July 2025
In this exclusive interview, Joe explores the structural and market forces behind the rise of private investment grade credit, including why borrowers are increasingly turning to private markets over public, how regulatory change is reshaping the relationship between banks and alternative asset managers, and why asset-backed solutions are gaining traction over traditional corporate debt.
Watch the full interview which covers:
0:25 - What are some of the reasons investment grade borrowers might seek to raise private capital, when they have ample access to public investment grade markets?
2:12 - When considering adding private investment grade credit to a portfolio, where have you seen clients look to implement it within their overall asset allocation buckets
3:19 - How durable is the spread premium available today in private investment grade credit over the long term?
5:10 - What are some of the benefits of asset-backed finance versus traditional corporate debt?
6:22 - How has regulation impacted the relationship between banks and alternative asset managers?
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Joe Moroney, Partner, Co-Head of Global Corporate Credit and Head of Sustainable Finance, Apollo
Joe is a Partner in Apollo's Credit Business and currently serves as Co-Head of Global Corporate Credit and Head of Sustainable Finance. He joined Apollo in 2008 as the Head of Apollo’s Global Performing Credit Group.
Prior to joining Apollo, Joe was with Aladdin Capital Management where he served as the Senior Managing Director of its Leveraged Load Group. Joe’s investment management career spans 30 years, with experience at firms including Merrill Lynch Investment Managers and MetLife Insurance.
Joe graduated from Rutgers University with a BS in Ceramic Engineering and is a Director Emeritus of the Rutgers University Foundation. He is a Chartered Financial Analyst and a member of the NYSSA.
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