Canal Road Group Announces Strategic Commitment from Apollo S3 Credit Solutions to its Direct Lending Strategy

MIAMI, June 2, 2026 /PRNewswire/ -- Canal Road Group ("CRG") today announced that it has secured a strategic commitment from Apollo S3 Credit Solutions ("S3") to its direct lending strategy. CRG has deployed over $1 billion in commitments to corporate credit borrowers in the private market since the launch of its inaugural strategy in 2024.

S3's commitment reflects the strength of the CRG platform, its existing portfolio investments and the experience of co-founders Mike Damaso, Don Young and team, who previously built CBAM Partners into a $15 billion AUM credit platform prior to its sale to Carlyle in 2022. The commitment will increase CRG's investment capacity to approximately $2 billion, inclusive of financing, for its direct lending strategy.

CRG commented: "We are excited to partner with Apollo S3 Credit Solutions and its team, which has a deep understanding of the private credit markets. Its strategic commitment capitalizes on the themes we have stressed over the last few years including the importance of deep sourcing relationships, credit vintage and alignment of interest between GP and LP. We appreciate S3's partnership and strive to continue to deliver for all stakeholders."

About Canal Road Group

CRG provides tailored private financing solutions to corporate credits, seeking to deliver consistent, attractive risk-adjusted returns through a diversified portfolio comprised primarily of senior secured investments. Guided by a relentless commitment to fundamental research, disciplined risk management, and the cultivation of opportunities from a broad and differentiated sourcing network, the firm approaches every investment with rigor and selectivity. CRG's founders, Don Young and Mike Damaso, previously led CBAM Partners ("CBAM"), a $15 billion credit platform founded in 2016 and sold to Carlyle in spring 2022. Mr. Young and Mr. Damaso are joined at CRG by a team of 14 CBAM alums. The firm is head-quartered in Miami, Florida. To learn more about Canal Road Group, please visit https://canalroadgroup.com/.

About Apollo S3

S3 is Apollo's Sponsor & Secondary Solutions business. S3 provides flexible capital solutions to asset managers and limited partners across the risk-reward spectrum. S3 is a natural extension of Apollo's global investment platform, offering partner-oriented capital across asset classes including private equity, private credit, infrastructure and real estate. The S3 platform has raised approximately $14 billion in total capital since launching in August 2022. To learn more about S3, please visit https://apollos3.com/.

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SOURCE Canal Road Group