Apollo Global closes on $8.5B for Accord+ strategy

Apollo has closed on $8.5 billion in total commitments for the Accord+ strategy, inclusive of $4.8 billion for Accord+ Fund II as well as separately managed accounts and related structures. The successful close of the second vintage exceeds internal targets and brings total assets for Apollo’s hybrid credit business to approximately $40 billion.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.