Apollo winds down products at Eliant Trade Finance platform after rough year for inventory financing

Apollo Global Management is pulling the plug on certain invoice-financing products at its Eliant Trade Finance platform, a strategic retreat driven by what sources describe as a difficult stretch for the inventory financing market. The wind-down, disclosed on September 11, specifically targets Eliant’s mid-market accounts receivable and supply-chain finance initiatives. The rest of the platform continues to operate. What Eliant was built to do Eliant Trade Finance LP came together in January 2022 as a collaboration between Apollo, its insurance affiliate Athene, and French banking giant BNP Paribas. The premise was straightforward: purchase invoices and provide working capital solutions to businesses that traditional banks often underserve. The platform launched with $1.3 billion in signed programs. Athene and its European counterpart Athora handled the funding side, while BNP Paribas brought structuring and financing expertise to the table. By 2025, Eliant reported $1.6 billion in new transactions spanning inventory, receivables, and supply chain financing. The platform also expanded its geographic footprint, appointing new leadership in 2024 to push into the Asia-Pacific region. ...