NEW YORK, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that it has closed on $2.4 billion in commitments for the Apollo Accord+ Fund (“Accord+”), its commingled multi-asset opportunistic credit offering. These new commitments bring total fundraising for the overarching Accord strategy to approximately $11 billion since inception, of which approximately $4.5 billion was raised in the past 12 months.
Accord+, a closed-end fund, follows a multi-asset opportunistic credit strategy, investing in Apollo’s highest conviction themes from across its Credit platform. The fund primarily targets performing, dislocated, privately originated and asset-backed credit opportunities centered on what Apollo believes represents the most attractive relative value based on prevailing market conditions.
“Accord+ is designed to provide investors with an efficient, streamlined offering that harnesses the depth and breadth of expertise resident within Apollo’s Credit platform. The fund builds upon our significant experience and established track record in managing our Accord strategy and other related mandates,” said Apollo Partners Chris Lahoud and Tristram Leach.
Apollo’s Deputy CIO of Credit John Zito added, “We are excited to bring Accord+ to the market, allowing investors to leverage our extensive history and expertise investing across the credit spectrum. Apollo’s platform spans asset classes, geographies and public and private markets, positioning us to dynamically invest across asset categories based on relative value. The strategy further utilizes our proven asset allocation framework.”
Apollo intends to continue to build out its Accord strategy family of funds with its global institutional and wealth management investor base.
Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in connection with the closing of the Apollo Accord+ Fund.
Apollo is a global, high-growth alternative asset manager. In the asset management business, Apollo seeks to provide its clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. For more than three decades, Apollo’s investing expertise across its fully integrated platform has served the financial return needs of its clients and provided businesses with innovative capital solutions for growth. Through Athene, Apollo’s retirement services business, it specializes in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Apollo’s patient, creative, and knowledgeable approach to investing aligns its clients, businesses it invests in, its team members, and the communities it impacts, to expand opportunity and achieve positive outcomes. As of September 30, 2022, Apollo had approximately $523 billion of assets under management. To learn more, please visit www.apollo.com.
Global Head of Investor Relations
Apollo Global Management, Inc.
Global Head of Corporate Communications
Apollo Global Management, Inc.