Apollo Global Management Prices U.S. and European CLOs Totaling More Than $2 Billion
-- $1.5 Billion ALM XIV is Largest CLO Transaction Completed in U.S. in Seven Years --
-- €382 Million ALME II is Apollo’s Second European CLO --
NEW YORK--(BUSINESS WIRE)-- Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, “Apollo”) announced the pricing of ALM XIV, Ltd. (“ALM XIV”), a $1.5 billion Collateralized Loan Obligation ("CLO"), which is the largest broadly syndicated CLO issued in the United States in the last seven years.1 Apollo also announced the pricing of ALME Loan Funding II Limited (“ALME II”), a €382 million European CLO which is the second European CLO issued by Apollo. Both ALM XIV and ALME II will invest in corporate leveraged loans. Both transactions were arranged by JPMorgan Chase & Co.
Apollo is among the largest CLO managers in the world and is the largest CLO manager in the United States2, with 23 CLOs totaling approximately $13 billion in assets under management.3 Since 2010, Apollo has priced 13 U.S. and European CLOs, raising $8.4 billion in aggregate. Apollo’s CLO strategy is a core part of the firm’s credit business, which had total assets under management of more than $100 billion as of March 31, 2014.
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Toronto, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of approximately $159 billion as of March 31, 2014 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.
1 Source: Creditflux (June 9, 2014).
2 Source: S&P CDO Spotlight (March 26, 2014).
3 Apollo CLO statistics pro-forma for ALM XIV and ALME II.
For investor inquiries regarding Apollo:
Apollo Global Management, LLC
Gary M. Stein, 212-822-0467
Head of Corporate Communications
Noah Gunn, 212-822-0540
Investor Relations Manager
For media inquiries regarding Apollo:
Rubenstein Associates, Inc. for Apollo Global Management, LLC
Charles Zehren, 212-843-8590
Source: Apollo Global Management, LLC
Released June 10, 2014