Banks including Goldman Sachs Group Inc., Citigroup Inc. and Wells Fargo & Co. have announced plans to cobble together more than $50 billion to plow into private credit in recent months.

Apollo’s products for individual investors are distributed through intermediaries such as bank wealth channels and registered investment advisers, and the firm doesn’t expect that to change.

The latest fundraising marks the fifth iteration of the firm’s Loan Partners fund, a series that got off the ground in 2008.

“We see the broad RIA community as a very attractive client base for Goldman Sachs,” according to President and COO John E. Waldron.

The push to fundraise from wealthy individuals is turning managers into high-end concierge services.

The iShares Bitcoin Trust has attracted the greatest inflow since going live, $16.5 billion, while investors have pulled $17.7 billion from the Grayscale fund over the same period.

The continuing battle for market share is good for inflation-weary consumers as companies compete aggressively for their business.

Can investors have their cake and eat it, too?