Apollo Raises Funds and Makes a Move into or out ADT Stake

Apollo Global Management closed its Apollo Infrastructure Credit Fund VII at $1.9 billion, continuing its expansion in the private credit market as institutional appetite for alternative fixed income remains elevated. The fund's final close demonstrates APO's ability to attract LP capital even as traditional buyout funds face headwinds from a compressed deal environment.

Separately, Apollo is exiting its stake in ADT through a 102 million share secondary offering — a clean monetization of its position in the residential and commercial security company. The block trade allows Apollo to recycle capital into higher-yield opportunities without the execution risk of a strategic sale process. Analysts noted the dual announcements highlight Apollo's active capital lifecycle discipline.

The ADT exit comes as the home security market matures and faces increasing competition from smart home and DIY monitoring entrants. Apollo's reallocation toward infrastructure credit — where it manages $698B in total assets — reflects a broader PE-to-credit pivot as rising rates have made direct lending more attractive relative to equity buyouts. Investors will watch whether Fund VII's $1.9B close signals the start of a larger fundraising cycle for Apollo's private credit business.

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