Apollo Global Management (APO) said Thursday that it has raised $8.5 billion for its Accord+ credit strategy, including $4.8 billion for Accord+ Fund II and the rest through separate accounts and related structures.
The closing of the second vintage fund exceeded internal targets and brings Apollo's hybrid credit platform to about $40 billion in assets, the company said.
The Accord+ Fund II attracted strong backing from a global mix of investors, including pension funds and sovereign wealth funds, the company said, adding that it plans to continue expanding its Accord+ offerings to serve institutional and wealth clients.
Shares of Apollo rose nearly 2% in recent trading.
Price: 139.17, Change: +2.69, Percent Change: +1.97
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.