Apollo lines up warehouse financing commitment from Abu Dhabi Investment Authority
Apollo Global Management Inc. (APO) said Wednesday it received a commitment from Abu Dhabi Investment Authority (ADIA) for warehouse financing deals by its new asset-backed finance (ABF) franchise and Atlas SP Partners, its securitized credit origination business. Atlas SP is expected to be able to support about $15 billion of new warehouse financing commitments, including the backing from ADIA, with a focus on private investment grade and sub-investment-grade opportunities. "As the global fixed income market evolves, our strategy of scaled fixed income replacement is expanding into a broader array of private credit solutions," said Apollo co-president Jim Zelter. Apollo stock is up 1.5% in premarket trades.
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June 07, 2023 08:29 ET (12:29 GMT)
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