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Alternative Market Briefing

Apollo, Hostplus team up to launch $1.25bn Asia Pacific credit strategy

Thursday, June 23, 2022

Laxman Pai, Opalesque Asia:

The global alternative asset manager Apollo Global Management said it will launch an Asia Pacific credit strategy in partnership with Hostplus, an industry superannuation fund in Australia.

The new strategy launches with $1.25 billion in assets after an inaugural raise that includes a $500 million anchor commitment from Hostplus alongside Apollo's internal and affiliated insurance balance sheets, said a joint press release.

The strategy will invest in Australia, India, Singapore, South Korea, and Hong Kong, it said. Apollo aims to invest between $150 to $300 million in individual loans that are predominantly senior secured.

The launch of the strategy follows increasing investment activity in APAC for Apollo, it said. Recently, Apollo-managed credit funds provided a comprehensive, US$750 million financing for Mumbai International Airport Ltd., one of the largest-ever private placements in India.

Apollo also helped to structure and made a cornerstone investment in a A$150 million sustainability-linked note issuance for Ampol in Australia, with targets that included carbon-emission reductions and installation of EV charging points supported by 100% renewable energy.

"The dedicated strategy brings Apollo's global credit platform together with local expertise to capitalize on the growing demand for private credit across the Asia Pacific, providing companies and sponsors with flexible and bespoke solutions," the release cla......................

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