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Laxman Pai, Opalesque Asia: The global alternative asset manager Apollo Global Management Inc. has closed on its first-ever $2.35 billion direct lending fund.
The American global private equity firm said in a press release that Apollo Origination Partnership Fund I (AOP) contributes to Apollo's more than $50 billion 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," said the release.
The Fund focuses on originating top of the capital structure financing solutions to companies that predominantly generate more than $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.
Apollo's Deputy CIO of Credit John Zito said: "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."
John added: "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 a...................... To view our full article Click here
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