Apollo today announced that funds within its Hybrid Value strategy have committed to invest $125 million in Hero FinCorp Limited (“HFL” or the “Company”), one of the largest privately owned non-banking financial companies (“NBFCs”) in India with a $3.7 billion loan book. The commitment is part of a $267 million fundraise by the Company, in which Apollo funds are investing alongside the Hero Group, a key sponsor of HFL. This investment continues the strong pace of activity of Apollo’s Hybrid Value strategy, which has led more than $11 billion of investment commitments since inception.
Apollo’s $14 billion Hybrid Value business operates on an integrated basis with the firm’s Private Equity and Credit teams to take advantage of Apollo’s broad industry and structuring expertise. As demonstrated by its recent investment in HFL, the business can invest in scale and with speed, and companies can benefit from Apollo’s global network of resources and track record of value creation.
The investment in HFL is subject to the satisfaction of customary closing conditions, including receipt of certain regulatory approvals, and is expected to close in Q2 2022. Shardul Amarchand Mangaldas & Co served as legal counsel to the Apollo Funds.
Read more: Globe Newswire
