Exchange operator Intercontinental Exchange on Tuesday launched ICE Private Credit Intelligence, a data infrastructure platform for the private credit market, with alternative asset manager Apollo as its anchor partner.
The platform is designed to give private credit participants a workflow closer to what exists in public fixed income markets. It uses ICE’s technology stack to ingest deal documents, extract key terms and distribute standardized reference data to authorized counterparties through a permissioned sharing model.
The service allows originators and asset managers to share deal-level information at scale without exposing proprietary data broadly. ICE said it plans to expand the platform over time to include performance analytics and pricing insights, though those capabilities are not yet live.
ICE and Apollo both framed the launch around a gap between the private credit market’s growth and its supporting infrastructure.
“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,” said Eric Needleman, Partner and Head of Apollo Capital Solutions.
ICE said it expects to onboard additional originators, asset managers and capital markets participants in the coming months.
Apollo’s transparency push
The partnership fits a broader pattern at Apollo. The firm launched a dedicated secondary trading effort last year that has facilitated nearly $10 billion in trading volume, according to Tuesday’s announcement. Earlier this month, Apollo said it plans to report NAVs for its credit funds on a monthly basis, with a long-term goal of daily valuations and third-party pricing, Bloomberg reported.
For ICE, the launch adds to a wider fixed income and post-trade buildout. In February, the company began clearing U.S. Treasury securities after receiving SEC approval, with repo clearing expected to follow later this year.
