Apollo Global: Software PE’s Aging Inventory Problem | June 11, 2026 | Torsten Slok's The Daily Spark
Sources: S&P Global Market Intelligence, Apollo Chief Economist
Apollo Global: Software private equity is sitting on an aging inventory, with nearly 900 of roughly 3,250 active portfolio companies held five years or longer and most of the rest bought during the 2020 to 2021 zero-rate era, see chart.
Clogged exit channels since the Fed began hiking in 2022 are keeping GPs holding software assets well past the typical 3- to 5-year window, pressuring distributions back to LPs for investors in software companies.
References
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