Apollo Global Management, Inc. (NYSE: APO) (together with its
consolidated subsidiaries, “Apollo” or the “Firm”) today announced
the formation of Apollo Strategic Origination Partners (or the
“Partnership”). The new origination platform is expected to provide
approximately $12 billion in financings over the next three years,
targeting transactions of approximately $1 billion to help meet
growing corporate demand for scaled direct origination solutions.
The Partnership is anchored by Mubadala Investment Company
(“Mubadala”) and certain permanent capital vehicles managed by
Apollo.
Apollo’s James Zelter, Co-President and Chief
Investment Officer of Credit, said: “Apollo Strategic Origination
Partners is designed to leverage our significant capabilities in
origination and alternative credit to help strategic capital
partners such as Mubadala invest with scale in high-quality
businesses. The platform builds on our decades of experience
providing capital solutions to large issuers. We believe there is
meaningful demand for financing solutions that sit between our
leading middle-market direct lending platform, MidCap Financial,
and the broadly syndicated loan market and expect this platform
will be able to effectively capitalize on the burgeoning
opportunity set.”
Mubadala Deputy Group CEO and CEO of Alternative
Investments & Infrastructure, Waleed Al Mokarrab Al Muhairi,
said: “Mubadala’s investment philosophy is centered on world-class
partnerships like this. Apollo is one of the most
sophisticated and innovative alternative investors, and this
strategic commitment should allow us to use our combined expertise
to make compelling, sizable investments in great companies and a
positive economic impact globally. We chose Apollo for their
breadth of experience, historically strong performance and low
default rate within their credit business.”
Apollo Strategic Origination Partners is built
on the Firm’s track record in direct origination, extensive
borrower relationships and expansive view of the global credit
markets. Apollo operates one of the world’s largest
alternative credit businesses, which is active across 28 distinct
asset classes and has more than 235 investment professionals.
Apollo’s John Zito, Deputy Chief Investment
Officer of Credit, added: “We believe Apollo and our longstanding
strategic partners, who are aligned in investment philosophy and
horizon, are well positioned to meet the substantial corporate and
sponsor demand for large direct lending solutions.”
Apollo Strategic Origination Partners will
originate direct lending solutions on a global basis, targeting
scaled investments in large, established corporations. Apollo
intends to continue to build out its large corporate direct
origination capabilities in partnership with its global
institutional investor base.
About ApolloApollo is a leading
global alternative investment manager with offices in New
York, Los Angeles, San Diego, Houston,
Bethesda, London, Frankfurt, Madrid, Luxembourg,
Mumbai, Delhi, Singapore, Hong
Kong, Shanghai and Tokyo. Apollo had assets under
management of approximately $316 billion as of March 31,
2020 in credit, private equity and real assets funds invested
across a core group of nine industries where Apollo has
considerable knowledge and resources. For more information about
Apollo, please visit www.apollo.com.
About Mubadala Investment
CompanyMubadala Investment Company is a sovereign investor
managing a global portfolio, aimed at generating sustainable
financial returns for its shareholder, the Government of Abu Dhabi.
Mubadala’s US $229 billion portfolio spans five continents with
interests in multiple sectors including aerospace, ICT,
semiconductors, metals and mining, renewable energy, oil and gas,
petrochemicals, utilities, healthcare, real estate, pharmaceuticals
and medical technology, agribusiness and a global portfolio of
financial holdings across all asset classes.
Mubadala’s asset investment arm, Mubadala Capital was
established in 2011 and operates six integrated businesses focused
on various asset classes and geographies that include private
equity, public equities, credit, ventures, sovereign investment
partnerships and Brazil. The unit invests globally across the
capital structure in both public and private securities. In
addition to managing its own balance sheet investments, Mubadala
Capital manages third party capital on behalf of institutional
investors in four of its six businesses.
For more information, please visit www.mubadala.com,
follow @mubadala on Twitter
Forward Looking StatementsThis press release
may contain forward-looking statements that are within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These statements include, but are not limited to, discussions
related to Apollo’s expectations regarding the performance of its
business, its liquidity and capital resources and the other
non-historical statements in the discussion and analysis. These
forward- looking statements are based on management’s beliefs, as
well as assumptions made by, and information currently available
to, management. When used in this press release, the words
“believe,” “anticipate,” “estimate,” “expect,” “intend” or future
or conditional verbs, such as “will,” “should,” “could,” or “may,”
and variations of such words or similar expressions are intended to
identify forward-looking statements. Although management believes
that the expectations reflected in these forward-looking statements
are reasonable, it can give no assurance that these expectations
will prove to have been correct. These statements are subject to
certain risks, uncertainties and assumptions, including risks
relating to our dependence on certain key personnel, our ability to
raise new credit, private equity, or real assets funds, the
outbreak of the novel coronavirus disease 2019 (“COVID-19”), the
impact of energy market dislocation, market conditions generally,
our ability to manage our growth, fund performance, changes in our
regulatory environment and tax status, the variability of our
revenues, net income and cash flow, our use of leverage to finance
our businesses and investments by our funds and litigation risks,
among others. Due to the COVID-19 pandemic, there has been
uncertainty and disruption in the global economy and financial
markets. While we are unable to accurately predict the full impact
that COVID-19 will have on our results from operations, financial
condition, liquidity and cash flows due to numerous uncertainties,
including the duration and severity of the pandemic and containment
measures, our compliance with these measures has impacted our
day-to-day operations and could disrupt our business and
operations, as well as that of the Apollo funds and their portfolio
companies, for an indefinite period of time. We believe these
factors include but are not limited to those described under the
section entitled “Risk Factors” in Apollo’s annual report on Form
10-K filed with the Securities and Exchange Commission (the “SEC”)
on February 21, 2020 and quarterly report on Form 10-Q filed with
the SEC on May 11, 2020, as such factors may be updated from time
to time in Apollo’s periodic filings with the SEC, which are
accessible on the SEC’s website at www.sec.gov. These factors
should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in this press release and in other filings. We undertake no
obligation to publicly update or review any forward-looking
statements, whether as a result of new information, future
developments or otherwise, except as required by applicable law.
This press release does not constitute an offer of Apollo or any
Apollo fund.
Contact InformationFor
investors please contact:Gary M. Stein Head of Investor
Relations Apollo Global Management, Inc. (212)
822-0467gstein@apollo.com
Ann DaiInvestor Relations ManagerApollo Global Management,
Inc.(212) 822-0678adai@apollo.com
For media inquiries please contact:Joanna Rose
Global Head of Corporate Communications Apollo Global Management,
Inc. (212) 822-0491 jrose@apollo.com
Brunswick for Mubadala:Alex
Blake-Milton +971 50 694 7589Tom Drummond +971 54 305
6609mubadalacapital@brunswickgroup.com
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