Apollo Closes on $2.34 Billion in Commitments for Apollo Accord Fund IV

Rhea-AI Summary

Apollo Global Management (APO) has successfully closed on approximately $2.34 billion in commitments for its Apollo Accord Fund IV, raising total assets to $4.1 billion over the past ten months. Fund IV investors include existing limited partners and new global institutions seeking credit investments during market volatility. Apollo's Accord strategy serves as a liquidity provider, focusing on high-quality secured credit risk. With over $6.3 billion in assets under management for dislocation opportunities, Apollo positions itself to capitalize on market volatility.

Positive

• Closed approximately $2.34 billion in commitments for Apollo Accord Fund IV, total assets raised reach $4.1 billion.
• Strong investor demand from both existing and new LPs highlights confidence in Apollo's strategies.
• Apollo's track record of swift investment during market stress indicates robust management capabilities.
• Accord strategy provides investors with diversified credit strategies and flexible capital solutions.

Negative

• None.

NEW YORK, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced that it has closed on approximately $2.34 billion in commitments for its dislocated credit offering, Apollo Accord Fund IV (“Fund IV”), bringing total assets raised for the commingled Accord strategy to $4.1 billion over the last ten months.

Apollo Accord Fund IV is the latest investment vehicle in the Firm’s flagship Accord series, launched in 2017. Fund IV investors included both existing LPs as well as new, global institutions seeking credit investment opportunities during periods of volatility, as experienced in early 2020.

“Apollo has a successful track record of investing swiftly in high-quality credits during periods of broad market stress and focusing on idiosyncratic cross-asset opportunities during periods of market stability,” said John Zito, Deputy CIO of Credit at Apollo. “We are excited by the strong investor response to partner with Apollo and believe dislocation strategies are an important allocation within a diversified portfolio.”

Zito added, “Looking ahead, we expect the current environment and market structure to continue to produce short-lived bouts of volatility, which the Accord strategy is well positioned to capitalize on, sourcing significantly mispriced risk from forced sellers and other market participants.”

Apollo’s Accord strategy focuses on acting as a liquidity provider during times of broad-based market stress by purchasing high-quality, secured cross-asset credit risk. In the first quarter of 2020, Apollo Accord Fund III drew down on 75% of its capital in nine business days to take advantage of high-quality buying opportunities amid market dislocation.

Apollo now has more than $6.3 billion in assets under management focused on dislocation credit opportunities, including Fund IV and institutional managed accounts. Accord is one of several strategies the Firm has designed to address opportunity sets across dislocation, distressed, origination and capital solutions, providing investors with a broad suite of credit strategies spanning the risk-reward spectrum, and borrowers with a variety of flexible capital solutions.

Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in connection with the closing of Apollo Accord Fund IV.

About Apollo
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo, among others. Apollo had assets under management of approximately $455 billion as of December 31, 2020 in credit, private equity and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.apollo.com.

Apollo Contact Information

For investors please contact:
Peter Mintzberg
Head of Investor Relations
Apollo Global Management, Inc.
+1 212 822 0528
APOInvestorRelations@apollo.com

For media inquiries please contact:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
+1 212 822 0491
Communications@apollo.com

FAQ

What is Apollo Accord Fund IV and its total commitments?

Apollo Accord Fund IV has closed on approximately $2.34 billion in commitments, contributing to total assets raised of $4.1 billion.

Who are the investors in Apollo Accord Fund IV?

Investors include both existing limited partners and new global institutions seeking credit investment opportunities.

What is the focus of Apollo's Accord strategy?

Apollo's Accord strategy focuses on acting as a liquidity provider during market stress by purchasing high-quality secured cross-asset credit risk.

How much does Apollo have in assets under management for dislocation credit opportunities?

Apollo has over $6.3 billion in assets under management focused on dislocation credit opportunities.