Fund databasePrivate Credit

Apollo European Private Credit ELTIF

Apollo Global Management · LU3042805062

ELTIF 2.0 Private Credit Luxembourg Article 8 13 share classes ↓ Co-Investments Primaries / Target Funds Direct Lending

NAV · 30 Jun 2026100.82 EUR
Fund currencyEUR
Income treatmentdistributingclass tracked, verified
Performance since Dec 2025+0.8%Class A1
Ongoing costs1.60% p.a.
Min. investmentEUR 10,000
Redemptionquarterly
Risk (SRI)3 / 7

01Performance

Unit price (NAV) in EUR · share class A1 · 7 data points

100.82 EURNAV as at 30 Jun 2026
100100.3100.5100.8Dec 2025Feb 2026Mar 2026May 2026Jun 2026
Source: Price feed from the management company all values documented from primary sources
since Dec 2025+0.8%

Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and the trading costs of reinvestment are not taken into account. Past performance is not a reliable indicator of future results.

Provider figures

These come from the factsheet, the PRIIPs KID or the monthly report. They may relate to a different reference date, a different share class or a longer period than the series above — the series starts with the first documented unit price, not necessarily with the launch. That is why the values sometimes differ.

Since launch p.a.0.98%

Target return per the provider: No officially communicated target return. PRIIPs KID class I2 (as at 31 Mar 2026): moderate scenario 7.84 % p.a. (exit after 1 year) and 7.94 % p.a. (after 5 years); cost table: around 10.6 % p.a. before costs / 8.0 % p.a. after costs in the moderate scenario. Class A1: expected net return 7.03 % p.a. (KID base scenario, 5 years)

Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.

02Strategy & portfolio

What the fund does and how the portfolio is put together.

Launch year2025
Fund sizeEUR 133mas at 8 Aug 2026
CurrencyEUR
Income treatmentboth
SFDRArticle 8
Recommended holding
Liquidity buffer20.00%
Leverage limit

Risk indicator 3 of 7 from the key information document (1 = low, 7 = high); it captures liquidity risks only to a limited extent.

Portfolio breakdown

Broken down using semiliquid’s common taxonomy — provider labels are mapped onto shared categories so that funds can be compared. Only published figures are used; nothing is estimated.

Sector breakdown

Approximation (qualitative)% of NAVas at 21 Aug 2026

Diversified, no sector breakdownThe provider reports the portfolio as a single position — no finer breakdown is published.
Source: Apollo — 'Fact Card Apollo European Private Credit ELTIF, as of Q1 2026'

Geographic breakdown

Approximation (qualitative)% of NAVas at 21 Aug 2026

EuropeThe provider reports the portfolio as a single position — no finer breakdown is published.
Source: Fondsdokumente des Anbieters (KID/Prospekt/Präsentation), qualitative Angabe ohne Prozentwerte — Belegzitate in den Spalten 'Text: Sektorfokus' und 'Text: Regionenfokus'

Strategy

Co-Investments Primaries / Target Funds Direct Lending

Direct lending to large-cap and upper-middle-market companies, predominantly first-ranking secured loans (first lien/senior secured), to a lesser extent second lien; supplemented by more liquid credit investments (including broadly syndicated loans/leveraged loans) for liquidity management. Implementation via direct investments, co-investments and primary fund investments. Target allocation according to the information available: European direct lending 80 %, broadly syndicated loans 15 %.

03Costs

The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.

Management fee2.45%
Total ongoing costs1.60%
Entry charge max.0.00%
Redemption fee0.00%
Performance feenot documented
Hurdle ratenot documented
High-water marknot documented

In context: ongoing costs

This fund
1.60%
Median Private Credit
2.19%

Median across 23 funds in this asset class in our database, based on the PRIIPs KID. No statement about quality — cost structures differ depending on the strategy and on target-fund layers.

How the performance fee works

Not documented in detail - the KID shows no percentage under 'Hurdle Rate'. Based on the Apollo platform's standard approach, a TOTAL RETURN incentive fee (distributions plus change in NAV) with a 5 % hurdle, 100 % catch-up and annual crystallisation at master-fund level is to be expected (analogous to AEPC Sub-Fund I) - NOT confirmed document-by-document for the ELTIF. High-water mark/loss carryforward: not documented

Costs per the key information document

Class I2: ongoing costs 1.60 % p.a., total cost impact ("Incidenza annuale dei costi") 2.4 % p.a. including the performance fee; class I1: 1.60 % p.a. According to the information available, the annual cost impact of class A1 is 3.2 % p.a.; for the class LU3189620225 a TER of 2.00 % is cited.

04Subscription & entry

How you get into the fund, and on what terms.

Subscriptionmonthly
Minimum investmentEUR 10,000
Entry chargeup to 0.00%
Rec. holding periodnot documented

Subscription per the document

monthly

05Redemption & liquidity

Semi-liquid means redemption only on fixed dates, with notice periods and upper limits. This is how it works for this fund — in the order the redemption process runs.

Units can be redeemed quarterly; notice must be given 30 days before the date; on each date the fund redeems at most 5 % of fund assets.

1 · Lock-upnone
2 · Notice period30 days before the date
3 · Redemption datequarterly
4 · Gatemax. 5 % per date
5 · Payoutnot documented

The gate caps redemptions at 5 % of fund assets per date. If more investors want out at the same time, orders are scaled back pro rata or deferred to the next date.

Redemption per the document

quarterly at NAV per unit, subject to the restrictions in the fund supplement

Gate per the document

Not documented (the KID refers to restrictions in the supplement; no specific gate percentage published)

Notice period

not documented

Lock-up

No redemption fee charged by the fund (KID class I2: exit costs 0.00 %). No lock-up or minimum holding period is stated; recommended holding period 5 years.

Liquidity score: 3.5 of 5

Redemption frequency
3 / 5 · 40 %
Gate / redemption cap
3 / 5 · 25 %
Notice period
4 / 5 · 20 %
Redemption fee
5 / 5 · 15 %

The score measures only the contractual redemption mechanics (the higher, the more flexible) — not whether the fund actually stays liquid under stress. Weightings in per cent.

06Share classes

13 classes known. All cost and risk figures on this page apply to LU3042805062.

ISINStatusMin. investmentOngoing costsSRI
LU3042805062basis of this pageEUR 10,0001.60%3/7
LU3042803877documentednot documentednot documentednot documented
LU3042803950documentednot documentednot documentednot documented
+ 10 more share classes
ISINStatusMin. investmentOngoing costsSRI
LU3146835361documentednot documentednot documentednot documented
LU3189620225documentednot documentednot documentednot documented
LU3146833663documentednot documentednot documentednot documented
LU3146833747documentednot documentednot documentednot documented
LU3146834802documentednot documentednot documentednot documented
LU3146834984documentednot documentednot documentednot documented
LU3189620498documentednot documentednot documentednot documented
LU3189620571documentednot documentednot documentednot documented
LU3189620654documentednot documentednot documentednot documented
LU3146835288documentednot documentednot documentednot documented
Note on the classes
According to the information available there are 13 share classes, all in EUR; the main class is A1 EUR (LU3042805062). A public class allocation is not published for every ISIN.

07Fund details & verification

Who stands behind the fund, who it is authorised for — and what the figures rest on.

AIFM / management company

Carne Global Fund Managers (Luxembourg) S.A. (AIFM and PRIIPs manufacturer, CSSF-regulated); portfolio management delegated to Apollo Management International LLP; depositary: BNP Paribas, Luxembourg Branch

Launch date

CSSF authorisation as an ELTIF on 5 Aug 2025; public announcement of the authorisation on 24 Sep 2025 (Apollo press release); operational launch of the first share classes at the end of January 2026 (e.g. LU3189620225 on 30 Jan 2026).

BaFin database

Listed as “Apollo Private Markets SICAV - Apollo European Private Credit ELTIF“ · fund type: EU/foreign ELTIF, open-ended, all investors · ID 70167818

Source: ESMA ELTIF register (Art. 3(3) ELTIF Regulation), as at 31 Jul 2026

Eligible investors

Professional investors and eligible non-professional (retail) investors with knowledge/experience of alternative investment strategies; ELTIF 2.0 retail distribution

Distribution authorisation

Apollo names 34 jurisdictions on the product page: Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, DIFC (Dubai), Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Cyprus, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom.

Fee layers / double charging

SEVERAL LEVELS: the ELTIF invests via direct investments, CO-INVESTMENTS and PRIMARY FUNDS/INVESTMENTS (target allocation: 80 % European direct lending, 15 % broadly syndicated loans). Where implementation is via Apollo's own target vehicles/master funds, further fees may arise at that level; an offsetting rule is not publicly documented - double charging cannot be ruled out. AIFM: Carne Global Fund Managers (Luxembourg) S.A. (the external AIFM fee is included in the ongoing costs)

All figures come from our analysis of provider documents (product data as at 19 Aug 2026, distribution data as at 12 Aug 2026) and have not been conclusively verified.

Similar funds

Same asset class, sorted by overlap of sub-strategy — no recommendation, no ranking.

Important information. semiliquid.info does not provide investment advice and makes no recommendation to buy, sell or hold fund units — no ranking, no offer, no invitation to subscribe. Only the prospectus and the key information document (PRIIPs KID) of the respective fund are authoritative. We give no warranty for the accuracy, completeness or currency of the information. Semi-liquid funds invest in illiquid assets: redemptions are possible only to a limited extent and can be capped, deferred or suspended; there is a risk of total loss. Past performance is not a reliable indicator of future results. Read the prospectus and the key information document before making an investment decision and seek professional advice where appropriate.