Apollo Global Management, Atlas SP Partners, and BNP Paribas have announced a strategic collaboration focusing on financing and capital markets. This partnership involves a commitment of $5 billion to support their joint initiatives.
BNP Paribas has committed $5 billion in initial financing for investment-grade, asset-backed credit from Apollo and Atlas. Apollo’s assets under management rose to $696 billion by June 2024, boosted by its merger with Athene. A report indicates a $40 trillion addressable market for private credit, with private debt funds achieving internal rates of return of 15.8% over three years and 11.7% over five years, according to Prequin.
According to a press release by Apollo, co-president Jim Zelter said, "We believe this strategic collaboration, which includes one of the largest-ever bilateral financings for directly-originated credit assets, is a testament to the strength of ATLAS’ unique origination capabilities and differentiated model. Working hand-in-hand with BNP Paribas, this transaction shows how Apollo and ATLAS continue to expand relationships with leading global financial institutions and builds on Apollo’s existing collaboration with BNP Paribas to provide inventory finance solutions through the Eliant platform."
Apollo is a global alternative asset manager focused on high growth. The firm aims to deliver excess returns to clients across the risk-reward spectrum, employing three main investment strategies: yield, hybrid, and equity. With over three decades of experience, Apollo utilizes its integrated platform to meet clients' financial needs and offer innovative capital solutions for business growth.
ATLAS SP Partners is a global investment firm offering funding and capital market services for structured credit and asset-backed finance solutions. Originally part of Credit Suisse’s Securitized Products Group, it now operates independently with support from institutional partners, including Apollo affiliates.
BNP Paribas is a leading bank in the European Union, with operations in 63 countries and around 183,000 employees. It is organized into three divisions: Commercial & Personal Banking Services; Investment & Protection Services; and Corporate & Institutional Banking.