Apollo Closes on $8.5 Billion for Accord+ Strategy, including $4.8 Billion for Second Vintage Fund

Core Insights - Apollo has successfully closed $8.5 billion in total commitments for its Accord+ strategy, including $4.8 billion for Accord+ Fund II, bringing total assets for its hybrid credit business to approximately $40 billion [1][2]. Group 1: Fund Strategy and Focus - Accord+ II employs an opportunistic strategy that focuses on high-conviction investments across the credit spectrum, including private corporate credit and asset-backed finance [2]. - The Fund is expected to tactically allocate to high-quality investments at the top of the capital structure and secondary opportunities based on prevailing market conditions [2]. Group 2: Market Conditions and Investor Demand - Apollo's leadership believes that the current market conditions, characterized by higher interest rates and volatility, present an attractive environment for opportunistic credit investments [3]. - The strong investor demand for the latest vintage of the Accord+ series is attributed to Apollo's investment acumen and alignment with market opportunities [3]. Group 3: Investor Base and Future Plans - The close of Accord+ II reflects broad support from a diverse group of global investors, including pension funds, sovereign wealth funds, financial institutions, and family offices [3]. - Apollo plans to continue expanding its Accord strategy family within its hybrid business, including future funds and tailored credit solutions for institutional and wealth clients [3]. Group 4: Company Overview - Apollo is a global alternative asset manager with approximately $751 billion in assets under management as of December 31, 2024, focusing on providing clients with excess returns across various risk-reward spectrums [5].