Apollo Global Management is winding down Eliant Trade Finance LP’s mid-market accounts receivable and supply-chain finance products after adverse conditions in the inventory-financing market. The rest of the platform remains operational, including its inventory-finance business. Eliant was formed in January 2022 by Apollo, Athene and BNP Paribas, initially launching with $1.3 billion in signed programs. It reported $1.6 billion in new transactions across inventory, receivables and supply-chain finance in 2025, although the discontinued products represent less than 10% of total assets.