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  "documentTitle": "Apollo Global Management | Investor Presentation Deck | 44 slides",
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  "presentationDate": "2023-08-01 00:00:00",
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  "notes": "The slide uses a before-after narrative structure to explain the shift from traditional banking to private credit.",
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      "kind": "chart",
      "text": "Bank Capital as a % of All US Loans Outstanding at 2022 YE",
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      "text": "Private Credit as a % of Total Credit Markets",
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      "text": "Nonfinancial Corporate Business Loans",
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      "kind": "paragraph",
      "text": "...prompting private investors to fill the void by lending directly to borrowers",
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      "kind": "paragraph",
      "text": "Banks' share of overall lending has been on the decline...",
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      "kind": "source-note",
      "text": "1. Federal Reserve Flow of Funds, JP Morgan, SIFMA, as of December 31, 2022. 2. Preqin, Apollo Chief Economist as of June 30, 2023. 3. Bloomberg, Apollo Chief Economist as of January 2023.",
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      "text": "Post-GFC Regulations Fundamentally Changed the Role of Banks",
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