🇺🇸 🇯🇵Apollo Global Management (阿波罗全球管理公司) reportedly expanded SoftBank Group (软银集团)’s loan to $9.2 billion, secured against Vision Fund 2 assets.

Apollo Global Management (阿波罗全球管理公司) reportedly expanded its loan to SoftBank Group (软银集团) to $9.2 billion, according to unidentified people cited in the Telegram reporting. The financing is secured against assets of Vision Fund 2 (愿景基金 2 号), making the collateral pool a central disclosed feature.

The report identifies the arrangement as a net asset value (NAV) loan. It states that the loan originated in 2021 and had expanded to $5.4 billion last year, and characterizes it as the world’s largest NAV loan even before this latest increase.

Apollo reportedly led the financing with assistance from JPMorgan Chase, Sumitomo Mitsui Banking Corporation (SMBC), Goldman Sachs, and Barclays. The reporting links the financing to SoftBank’s increased investment in OpenAI, but does not establish that the entire $9.2 billion has been drawn or transferred to OpenAI.

The supplied material does not disclose interest rates, maturity, collateral-coverage requirements, covenants, or drawdown conditions. The reported expanded loan size should therefore remain distinct from cash already deployed into AI investments.