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NEW YORK - Apollo Global Management Inc. (NYSE: APO), a $78 billion market cap alternative asset manager, has successfully raised $8.5 billion for its Accord+ strategy, surpassing its target and expanding its hybrid credit business to around $40 billion in assets. The fundraising includes $4.8 billion for the Accord+ Fund II, as well as separate accounts and related structures. According to InvestingPro data, Apollo maintains strong liquidity with a current ratio of 1.51, positioning it well for continued growth in its investment strategies.
The Accord+ Fund II aims to make opportunistic investments across the credit spectrum, focusing on high-quality, top-tier capital structure investments in both private corporate credit and asset-backed finance. The fund will also explore secondary market opportunities, leveraging market conditions characterized by sustained higher interest rates and increased volatility. With revenue of $25.89 billion in the last twelve months and a track record of maintaining dividend payments for 15 consecutive years, Apollo demonstrates consistent operational performance. InvestingPro analysis reveals 12 additional key insights about Apollo’s financial health and market position, available to subscribers.
Chris Lahoud, Apollo’s Partner and Head of Opportunistic Credit, highlighted the company’s ability to operate effectively in various market environments, including periods of dislocation, due to its scaled and integrated credit platform. John Zito, Co-President of Apollo Asset Management and Head of Credit, pointed to strong investor demand for the Accord+ series as a testament to Apollo’s investment expertise and innovative product development.
The latest fund attracted a diverse range of global investors, including pension funds, sovereign wealth funds, financial institutions, and family offices. Apollo’s strategy for its Accord family within its hybrid business includes plans for future funds and customized credit solutions catering to institutional and wealth clients.
Apollo, a high-growth alternative asset manager, leverages its integrated platform to meet client needs across the risk-reward spectrum, from investment grade to private equity. With a focus on yield, hybrid, and equity strategies, Apollo has been serving clients for over three decades. As of December 31, 2024, the firm managed approximately $751 billion in assets. Trading at $136.48 per share with a dividend yield of 1.36%, Apollo shows strong long-term performance potential. For comprehensive analysis and detailed valuation metrics, investors can access Apollo’s full research report on InvestingPro, part of their coverage of 1,400+ US equities.
The legal aspects of the Accord+ II Fund’s closing were managed by Paul, Weiss, Rifkind, Wharton & Garrison LLP. This fundraising event is based on a press release statement issued by Apollo Global Management, Inc.
In other recent news, Apollo Global Management has committed significant investments in solar energy projects. The company announced a joint venture with Bullrock Energy Ventures, investing up to $220 million in community solar assets across New York and New England. This includes $100 million in equity to support Bullrock’s renewable energy projects. In a separate initiative, Apollo is partnering with Summit Ridge Energy, committing up to $400 million to enhance commercial solar energy infrastructure in Illinois.
Additionally, Apollo has teamed up with MGA Moonrock to introduce an insurance facility for drones and aviation innovations, offering liability coverage up to $100 million. Changes within Apollo’s leadership were also announced, with Gary Cohn appointed as Lead Independent Director and CEO Marc Rowan expanding his role to Chair of the Board.
Furthermore, Apollo’s chief economist, Torsten Slok, has warned that a potential U.S. recession could significantly increase the country’s budget deficit despite potential savings from lower interest rates. These developments underscore Apollo’s ongoing efforts in renewable energy and strategic leadership adjustments.
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