Apollo Global Management (APO) is in early discussions with UK-based Schroders to explore a potential product partnership, Bloomberg reported Friday, citing people familiar with the talks.

Talks between the companies' senior management teams are ongoing regarding a private markets partnership under which Apollo could source assets for Schroders, according to the people.

Schroders is also holding talks with other companies to widen its portfolio of offerings, according to the report.

Apollo Global and Schroders didn't immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)