​​With traditional lenders retrenching, alternative asset managers like Apollo Global Management are accelerating their efforts to fill the vacuum to position themselves as an alternative to the traditional banking system — offering corporates as well large PE funds who are saddled with big bets in their portfolios bought at higher prices — with loans and financing. Apollo’s private credit unit now manages more than $400 billion in AUM, four times the size of its buyout arm which historically was the lynchpin of its business.