Apollo Global Management Prices $722 Million CLO
-- Largest CLO Transaction Completed in 2012 Reinforces Apollo’s Leadership Position --
NEW YORK--(BUSINESS WIRE)-- Apollo Global Management, LLC (NYSE: APO) and its subsidiaries (collectively "Apollo") today announced the pricing of ALM VII, Ltd., a $722 million Collateralized Loan Obligation (CLO), the largest broadly syndicated CLO issued in the United States in 2012.1 ALM VII, Ltd. will invest in corporate leveraged loans and high yield bonds.
Apollo has priced three CLOs this year, raising approximately $1.7 billion in aggregate, which represents the largest capital raise through CLO issuance among all U.S. CLO managers.1 In February, 2012, Apollo closed ALM V, Ltd., a $437 million CLO, and in June, 2012, Apollo closed ALM VI, Ltd., a $514 million CLO.
Apollo is one of the largest CLO managers, with 26 CLOs totaling over $14.5 billion in assets under management.2 Apollo’s CLO strategy is part of Apollo’s Capital Markets business, which had total assets under management of $56 billion as of June 30, 2012.
About Apollo Global Management
Apollo is a leading global alternative asset manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of approximately $105 billion as of June 30, 2012, in private equity, credit-oriented capital markets 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 Based on data from J.P. Morgan research.
2
Based on CLO assets under management as of June 30, 2012 (pro-forma for
ALM VII) per Standard & Poor’s.
For investor inquiries regarding Apollo:
Apollo Global
Management, LLC
Gary M. Stein, 212-822-0467
Head of Corporate
Communications
gstein@apollolp.com
or
Apollo
Global Management, LLC
Patrick M. Parmentier, CPA, 212-822-0472
Investor
Relations Manager
pparmentier@apollolp.com
or
For
media inquiries regarding Apollo:
Rubenstein Associates, Inc.
for Apollo Global Management, LLC
Charles Zehren, 212-843-8590
czehren@rubenstein.com
Source: Apollo Global Management, LLC
Released October 4, 2012