Apollo Launches Credit Secondaries Platform with $1 Billion in Assets

Rhea-AI Summary

Apollo Global Management announced the launch of Apollo Credit Secondaries, a new platform focusing on private credit secondary transactions with $1 billion in assets. This initiative is supported by investments from Apollo's insurance clients and aims to establish a leadership position in the expanding market. The firm plans to leverage its extensive $330 billion Credit business to enhance sourcing and underwriting capabilities. Apollo is committed to providing attractive risk-adjusted returns while addressing liquidity needs for investors.

Positive

• Launch of Apollo Credit Secondaries platform with $1 billion in assets.
• Expansion into private credit secondary transactions tapping into a growing market.
• Support from Apollo's insurance clients enhances credibility and investment strength.
• Strong existing Credit business of $330 billion provides unique sourcing advantages.
• Plans to add more team members to bolster secondaries capabilities.

Negative

• None.

New Strategy Anchored by Apollo Insurance Clients

NEW YORK, April 27, 2021 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced its expansion into the secondaries markets with the launch of Apollo Credit Secondaries, a new platform with $1 billion in assets to deploy to private credit secondary transactions. The platform is anchored by investments from Apollo’s insurance clients and the Firm expects to raise a dedicated fund in the future to establish a leadership position in the burgeoning asset class.

Apollo Credit Secondaries will look to capitalize on the continued growth of private credit, addressing related liquidity or portfolio needs from underlying investors. The platform is part of Apollo’s nearly $330 billion Credit business, which the Firm believes will provide it with unique advantages to sourcing and underwriting a portfolio of credit secondaries. Apollo expects to maintain its disciplined investment approach and generate attractive risk-adjusted returns with meaningful downside protection.

Apollo Co-President and Chief Investment Officer of Credit James Zelter said, “Apollo’s Credit business is known for being a flexible solutions provider and this new platform extends that value proposition to the growing market of credit secondaries, helping investors to address liquidity needs and optimize their portfolios. We believe the scale of our platform, flexible capital base and strength in underwriting will allow us to source and execute on opportunities unavailable to many other industry participants.”

Apollo expects to augment its efforts in credit secondaries with additional team members over the coming months, building out its secondaries capabilities in partnership with its global client base. Apollo operates one of the world’s largest alternative Credit businesses, which is active across 28 distinct asset classes and has more than 250 investment professionals.

About Apollo

Apollo is a leading global 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. For more information about Apollo, please visit www.apollo.com.

Investor Contact:

Peter Mintzberg
Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0528
APOInvestorRelations@apollo.com

Media Contact:

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

FAQ

What is Apollo Credit Secondaries?

Apollo Credit Secondaries is a new platform launched by Apollo Global Management focusing on private credit secondary transactions with $1 billion in assets.

How much has Apollo Global Management raised for its new platform?

Apollo Global Management has launched the Apollo Credit Secondaries platform with $1 billion in assets.

What is the purpose of Apollo's new credit platform?

The purpose of Apollo's new credit platform is to address liquidity needs and optimize portfolios for investors involved in private credit.

What is the size of Apollo's Credit business?

Apollo's Credit business is approximately $330 billion, providing significant advantages in sourcing and underwriting credit secondaries.