Apollo Hybrid Value Raises $4.6 Billion for Second Flagship Fund
04 April 2022 - 2:00PM
Apollo (NYSE: APO) 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.
Apollo Partner and Co-Head of Hybrid Value Rob Ruberton said,
“We are very excited to close fundraising for HVF II, the second
vintage in our flagship fund series. We are grateful for the
continued support from our existing Limited Partners on the back of
a successful Fund I and are thrilled to welcome a number of new
investors into the franchise. We believe that our funds offer
attractive, downside-protected returns that are differentiated from
traditional private credit and private equity exposures. We are
proud to have delivered strong results in our inaugural fund and
look forward to building upon our success with our second
fund.”
Matt Michelini, Partner, Co-Head of Hybrid Value and Head of
Asia-Pacific at Apollo, continued, “Our Hybrid Value franchise was
built to provide companies with strategic capital in all market
environments, using Apollo’s integrated platform to offer sizable,
bespoke solutions and greater speed and certainty. The strengths of
our Hybrid Value business are becoming increasingly apparent as
more and more companies partner with us for value-added growth
capital, structured equity solutions to fund M&A, liquidity
during difficult periods, and value realization events for
shareholders.”
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.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as fund
counsel on the launch of HVF II.
About ApolloApollo is a global, high-growth
alternative asset manager. In our asset management business, we
seek to provide our 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, our investing expertise across our fully
integrated platform has served the financial return needs of our
clients and provided businesses with innovative capital solutions
for growth. Through Athene, our retirement services business, we
specialize in helping clients achieve financial security by
providing a suite of retirement savings products and acting as a
solutions provider to institutions. Our patient, creative, and
knowledgeable approach to investing aligns our clients, businesses
we invest in, our employees, and the communities we impact, to
expand opportunity and achieve positive outcomes. As of December
31, 2021, Apollo had approximately $498 billion of assets under
management. To learn more, please visit www.apollo.com.
Contact Information:For Investors:Noah GunnGlobal Head of
Investor Relations(212) 822-0540IR@apollo.com
For Media:Joanna RoseGlobal Head of Corporate
Communications(212) 822-0491Communications@apollo.com
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