Commitments bring total new capital for direct lending franchise to over $13B in just over 12 months
NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that it has closed Apollo Origination Partnership Fund II (“AOP II” or “Fund II”) with approximately $4.8 billion of investable assets1. This brings total assets raised for the Apollo Large Cap Direct Lending business to approximately $13.3 billion in just over 12 months, inclusive of the Fund II close and other product formats providing access to Apollo’s direct lending franchise. Apollo’s total direct lending and performing credit AUM has doubled to $238 billion over the past four years.
AOP II is designed to capitalize on growing demand for corporate and sponsor-backed large-cap lending. Under the strategy, Apollo aims to invest in senior corporate debt of issuers located predominantly in the United States and Western Europe that generate over $100 million of annual EBITDA.
“AOP II seeks to provide investors with a differentiated approach to corporate and sponsor direct lending. The convergence of public and private credit markets continues to create tremendous demand for scaled direct lending solutions led by a single counterparty who can offer price and execution certainty to borrowers,” said Apollo Credit Partner Jim Vanek.
“We believe that Apollo’s decades-long history and expertise investing in corporate credit, as well as the incumbency and broad reach of our Credit platform, make us uniquely situated to lead in this growing market,” said Deputy CIO of Credit John Zito. “Platforms with scaled and diversified sources of capital are well positioned to meet the increasing needs of large companies.”
Apollo’s Credit business has more than $500 billion of AUM, supported by highly diversified, stable inflows across institutional fundraising, Global Wealth, and Retirement Services.
Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in connection with the closing of Fund II.
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 credit to private 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, 2024, Apollo had approximately $696 billion of assets under management. To learn more, please visit www.apollo.com.
Apollo Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com
1Inclusive of equity commitments and anticipated leverage
