apollo's acred fund trades at $135.6m market cap accessing private credit yielding 8-12% through $800b aum apollo global. blackrock's buidl sits at $1.8b for treasury exposure at 4.5%. same securitize infrastructure, same sec clarity, 93% valuation discount. apollo charges zero performance fees on acred versus their standard 20% carry. the dislocated credit sleeve hunts technical selloffs in leveraged loans exactly when spreads blow out