Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced that it has closed on approximately $2.34 billion in commitments for its dislocated credit offering, Apollo Accord Fund IV (“Fund IV”), bringing total assets raised for the commingled Accord strategy to $4.1 billion over the last ten months.
Apollo Accord Fund IV is the latest investment vehicle in the Firm’s flagship Accord series, launched in 2017. Fund IV investors included both existing LPs as well as new, global institutions seeking credit investment opportunities during periods of volatility, as experienced in early 2020.
“Apollo has a successful track record of investing swiftly in high-quality credits during periods of broad market stress and focusing on idiosyncratic cross-asset opportunities during periods of market stability,” said John Zito, Deputy CIO of Credit at Apollo. “We are excited by the strong investor response to partner with Apollo and believe dislocation strategies are an important allocation within a diversified portfolio.”
Zito added, “Looking ahead, we expect the current environment and market structure to continue to produce short-lived bouts of volatility, which the Accord strategy is well positioned to capitalize on, sourcing significantly mispriced risk from forced sellers and other market participants.”
Source: EIN News
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