Apollo Closes on $2.4 Billion for Inaugural Accord+ Fund
21 November 2022 - 2:30PM
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.
About ApolloApollo 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.
Apollo Contacts
Noah GunnGlobal Head of Investor RelationsApollo Global
Management, Inc.(212) 822-0540IR@apollo.com
Joanna RoseGlobal Head of Corporate CommunicationsApollo Global
Management, Inc.(212) 822-0491Communications@apollo.com
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