Key Takeaways
- • Apollo Global Management CEO Marc Rowan rejected the idea that adding private assets to retirement and insurance portfolios poses a systemic risk, calling related concerns overblown.
- • Rowan said most private credit held by insurers and pension fund buyers is rated investment grade.
- • Rowan pushed back on the view that private credit is less transparent than traditional loans, arguing lenders can get direct access to borrowers' management.
- • Rowan's comments were delivered to investors on Monday, November 24, 2025, according to Bloomberg.
Summary
Apollo Global Management Inc. Chief Executive Officer Marc Rowan rejected the notion that adding private assets to retirement and insurance portfolios can pose a systemic risk, characterizing concerns about such holdings as overblown, according to Bloomberg.
Speaking to investors on Monday, Rowan said most private credit held by insurers and pension fund buyers is rated investment grade. His remarks targeted a growing debate over whether private credit, which is generally less liquid and less publicly visible than syndicated bank loans, carries risks that warrant closer scrutiny as it becomes a larger share of retirement and insurance balance sheets.
Rowan also pushed back on the argument that the asset class is less transparent than traditional loans. He said lenders can obtain direct access to borrowers' management teams, which he presented as a source of informational advantage and oversight. The Bloomberg report provides no further figures on the size of insurer or pension exposure, and the source material available for this summary is limited to these points.
Speaking to investors on Monday, Rowan said most private credit held by insurers and pension fund buyers is rated investment grade. His remarks targeted a growing debate over whether private credit, which is generally less liquid and less publicly visible than syndicated bank loans, carries risks that warrant closer scrutiny as it becomes a larger share of retirement and insurance balance sheets.
Rowan also pushed back on the argument that the asset class is less transparent than traditional loans. He said lenders can obtain direct access to borrowers' management teams, which he presented as a source of informational advantage and oversight. The Bloomberg report provides no further figures on the size of insurer or pension exposure, and the source material available for this summary is limited to these points.
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