Apollo today announced that its Hybrid Value business has closed its second flagship fund, Apollo Hybrid Value Fund II (HVF II), raising approximately $4.6 billion. The fund received strong support from both new and existing limited partners committing to the all-weather strategy, which seeks to provide flexible equity and debt capital solutions to companies.
HVF II’s $4.6 billion in commitments is an increase of more than 40% over Hybrid Value Fund I, which raised $3.3 billion in 2019. The Hybrid Value team’s strong focus on structuring capital preservation, attractive yield, and equity upside has made the strategy particularly attractive to insurance companies, sovereign wealth funds, pension funds, endowments and other institutional clients and high-net-worth individuals. Hybrid strategies were a key strategic growth area for Apollo as presented at its 2021 Investor Day.
The Hybrid Value team continues to find what it believes to be highly attractive risk-reward opportunities for its limited partners, committing more than $1 billion of HVF II to-date, including preferred equity investments in WR Grace, Behavior Interactive and Global Schools Group, among others.
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