Intercontinental Exchange (ICE) announced the launch of ICE Private Credit Intelligence, a new data platform focused on private‑credit markets, with Apollo Global Management named as an anchor partner. The partnership, announced on March 17, 2026, brings Apollo’s deep market reach and expertise to the platform’s development and adoption.
The private‑credit market is estimated at $40 trillion, yet it has long suffered from opacity and a lack of standardized data. By creating a data layer that mirrors the transparency of public credit markets, ICE and Apollo aim to provide investors and portfolio managers with the analytics and insights needed to navigate this complex space.
Apollo’s role as anchor partner is expected to generate new fee‑related revenue streams and deepen its footprint in the growing private‑credit sector. The partnership aligns with Apollo’s broader strategy of expanding its private‑credit offerings and enhancing transparency, including plans to introduce monthly net‑asset‑value disclosures for certain credit funds.
Management commentary underscores the strategic importance of the initiative. Chris Edmonds, President of ICE Fixed Income and Data Services, said, "Since ICE was founded over 25 years ago, we have been using sophisticated technology to modernize markets and offer innovative new services to our customers that help manage risk and support their alpha generation initiatives. By bringing our vast data science expertise, and working with a leading firm like Apollo, we're excited to launch a new service that will solve crucial challenges in the private credit market and ultimately offer new opportunities to our customers." Eric Needleman, Partner and Head of Apollo Capital Solutions, added, "As private credit continues to scale, the next phase of the market's evolution will require stronger infrastructure and more standardized data that enables market participants to own and transact in private credit in a way that mirrors the public credit experience. Working with Intercontinental Exchange to develop the foundational data layer that the market has historically lacked is an important step toward improving transparency, enabling more efficient market activity and supporting the continued maturation of private credit."
The partnership also comes amid Apollo CEO Marc Rowan’s warning of a "foreseeable" prolonged shakeout in the private‑credit industry due to software concentration and overexposure, highlighting the need for greater transparency and data standardization.
Following the announcement, Apollo’s stock surged, with analysts describing the move as a "bold ICE deal" that has investors "jumping" on the opportunity. The market reaction reflects confidence that the platform will address long‑standing opacity in private credit and unlock new fee‑based revenue for both companies.
The launch positions ICE as a key player in private‑credit data services while reinforcing Apollo’s leadership in the asset‑management space. By providing a standardized data infrastructure, the platform could accelerate market efficiency, improve valuation accuracy, and ultimately support the continued maturation of private credit, even as the industry faces headwinds such as valuation concerns and concentration risk.
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