Apollo has closed on $8.5bn in total commitments for the Accord+ strategy, inclusive of $4.8bn for Accord+ Fund II as well as separately managed accounts and related structures – the close of the second vintage exceeds internal targets, bringing total assets for Apollo’s hybrid credit business to approximately $40bn.
Accord+ II employs an opportunistic strategy focusing on high-conviction investments across the credit spectrum. The Fund is expected to tactically allocate to high quality, top of the capital structure investments across both private corporate credit and asset-backed finance as well as secondary opportunities as informed by prevailing market conditions.
The Accord+ II close reflects broad support from a global and diverse group of investors including pension funds, sovereign wealth funds, financial institutions and family offices. The firm intends to continue building its Accord strategy family within its hybrid business, including future funds and bespoke credit solutions tailored to institutional and wealth clients.
Paul, Weiss, Rifkind, Wharton & Garrison represented Apollo in connection with the closing of the Accord+ II Fund.
