Apollo Announces Launch of ATLAS SP Partners in Connection with a Close of the Credit Suisse Securitized Products Group Transaction
ATLAS SP Partners Launches as Standalone Securitized Credit Origination Platform to Accelerate Growth in Multi-trillion-dollar Asset Backed Finance Market
NEW YORK, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Credit Suisse (SIX: CSGN) have completed a substantial first close of their previously announced transaction under which affiliates of Apollo purchased a significant portion of the Securitized Products Group from Credit Suisse (the “Transaction”). A majority of the assets and professionals associated with the Transaction are now part of or managed by ATLAS SP Partners (the “Company”), a new standalone credit firm focused on asset-backed financing and capital markets solutions.
ATLAS SP Partners is a high-growth franchise helping specialty finance companies, financial sponsors, corporates, REITs and a variety of other clients access structured financing and portfolio solutions. The Company is led by CEO Jay Kim, previously Managing Director and Head of Securitized Products at Credit Suisse, and includes a team of more than 200 professionals.
Apollo, through its affiliates, is the majority shareholder of ATLAS SP Partners and serves as a long-term capital partner to the Company, alongside additional third-party capital partners. Forming a diverse and robust capital base is designed to enable ATLAS SP Partners to offer clients an enhanced suite of products and capabilities.
“Asset-backed securitization is used to finance consumer and commercial activity and fuel economic growth in the US and increasingly around the world,” said Apollo Co-President Jim Zelter. “Launching ATLAS SP is an exciting and logical extension of that trend – forming a standalone business led by Jay and one of the industry’s most knowledgeable and experienced teams. At Apollo, we are excited to partner with ATLAS SP and accelerate our strategy to invest in more long-term, investment grade quality assets for our clients and strategic partners.”
“It is an honor to lead ATLAS SP Partners, working alongside my incredible colleagues and with the support of Apollo, to grow a new independent franchise and bring even more innovative solutions to our clients,” said Jay Kim, CEO of ATLAS SP Partners. “This is a team that’s known for providing a holistic suite of capabilities, from financing to capital markets and distribution services, and we expect to build upon this legacy and bring even more to bear under the ATLAS SP banner with the backing of a diversified, long-term capital base.”
ATLAS SP Partners serves hundreds of clients throughout the growth lifecycle from early stage to mature public companies, providing asset-backed warehouse financing, forward flow and asset purchases, and capital markets and distribution services. Its expertise spans a wide range of asset classes within residential and commercial real estate, and corporate and consumer debt.
ATLAS SP Partners primarily originates high-quality, investment-grade assets that are highly desirable to a broad range of investors and align with the balance sheet needs of Athene and other retirement services companies, which are estimated to hold approximately 95% of their assets in high grade credit instruments.
Certain additional assets and certain international employees are expected to transition from Credit Suisse to the new Company throughout the first half of 2023.
To learn more about ATLAS SP Partners, please visit www.atlas-sp.com.
About ATLAS SP Partners
ATLAS SP Partners is a global investment firm providing tailored solutions, industry expertise and execution certainty on asset-backed financing and capital markets activities that fuel business innovation and growth. We offer a suite of flexible solutions across asset-backed warehouse financing, forward flow and asset purchase, and capital markets and distribution services. Companies of all maturities, from early-stage growth to large public companies, operating across real estate, corporate and consumer financing turn to ATLAS SP Partners for capital and advisory solutions. To learn more, please visit www.atlas-sp.com.
Apollo is a global, high-growth alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2022, Apollo had approximately $523 billion of assets under management. To learn more, please visit www.apollo.com.
Apollo Forward-Looking Statements
This press release contains forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release the words “believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Apollo believes these factors include but are not limited to those described under the section entitled “Risk Factors” in Apollo's quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 10, 2022 and November 8, 2022, as such factors may be updated from time to time in Apollo's periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in Apollo’s filings with the SEC. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.
Global Head of Investor Relations
Apollo Global Management, Inc.
Global Head of Corporate Communications
Apollo Global Management, Inc.
Released February 8, 2023