Apollo Closes on $2.35 Billion in Commitments for Apollo Origination Partnership Fund I

Rhea-AI Summary

Apollo Global Management has successfully closed its inaugural Apollo Origination Partnership Fund I with approximately $2.35 billion in commitments. This fund focuses on large corporate direct lending, contributing to Apollo's over $50 billion in assets under management (AUM) in direct lending strategies. Targeting companies with over $100 million in EBITDA, the fund aims to provide flexible financing solutions. Apollo seeks to expand its direct origination capabilities, highlighting the growing demand for private credit amid market volatility.

Positive

• Closed $2.35 billion in commitments for Apollo Origination Partnership Fund I.
• Increases total AUM in direct lending strategies to over $50 billion.
• Targets large corporate borrowers generating over $100 million in EBITDA.

Negative

• None.

Fund Close Contributes to Apollo’s $50 Billion-plus of Direct Lending AUM

NEW YORK, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that it has closed on approximately $2.35 billion in commitments for Apollo Origination Partnership Fund I (“AOP” or the “Fund”), its inaugural fund dedicated to large corporate direct lending. The new fund contributes to Apollo’s more than $50 billion¹ of AUM across its direct lending strategies and platforms.

AOP is Apollo’s flagship closed-end, direct lending strategy focused on large corporate borrowers based primarily in North America and Western Europe. The Fund focuses on originating top of the capital structure financing solutions to companies that predominantly generate in excess of $100 million of EBITDA.

“Apollo Origination Partnership is designed to leverage our origination capabilities and credit expertise to provide scaled capital solutions. The Fund builds on our decades of experience lending to large corporates and sponsor-backed companies to help achieve their goals, while generating attractive risk-adjusted returns for our investors,” said Apollo Partner James Vanek. “We are grateful for the strong investor support and believe scaled direct origination is a long-term opportunity which is still in its infancy.”

Apollo’s Deputy CIO of Credit John Zito added, “AOP focuses on scaled private credit capital formation to address an emerging and vast need for flexible lending solutions, in a market historically served by leveraged finance alone. While this is a long-term opportunity, the volatility and availability of credit in the public markets this year has only accelerated activity for AOP and our direct origination business. We continue to build a solutions-oriented credit platform to provide speed and certainty of execution, irrespective of broader market conditions.”

Apollo intends to continue to build out its large corporate direct origination capabilities in partnership with its global institutional and wealth management investor base.

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

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2022, Apollo had approximately $515 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contact Information

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@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

¹ Reflects AUM for Apollo-managed direct lending strategies as well as MidCap Financial (Apollo’s middle market lending affiliate) as of 2Q 2022

FAQ

What is the Apollo Origination Partnership Fund I?

The Apollo Origination Partnership Fund I is Apollo's inaugural fund dedicated to large corporate direct lending, closed with $2.35 billion in commitments.

How much AUM does Apollo have in direct lending strategies?

Apollo has over $50 billion in assets under management across its direct lending strategies.

What type of companies does the AOP focus on?

The AOP focuses on large corporate borrowers based primarily in North America and Western Europe, particularly those generating over $100 million in EBITDA.

When was the AOP Fund closed?

The Apollo Origination Partnership Fund I was closed on August 11, 2022.