Apollo completed several transformative changes which reinforce the company’s position as a senior secured middle market business development company.
Apollo formed an Asia Pacific credit strategy in a strategic partnership with Hostplus. The new strategy launches with $1.25 billion in assets, following an inaugural raise that includes a $500 million anchor commitment from Hostplus alongside Apollo’s internal and affiliated insurance balance sheets.
Apollo agreed to acquire Cardenas Markets, a grocery retailer focused on serving the Hispanic community, from investment funds affiliated with KKR, a global investment firm.
Apollo launched a comprehensive sustainable investing platform focused on financing and investing in the energy transition and decarbonization of the industry. Olivia Wassenaar will lead Apollo’s sustainable investing platform.
Apollo Debt Solutions BDC launched with more than $1 billion in assets under management. The fund, which invests primarily in directly originated assets, is managed by an affiliate of Apollo.
MidCap Financial replaced Citibank as the collateral agent and administrative agent for the amended 2016 revolving credit agreement of Revlon Consumer Products. MidCap Financial and Apollo affiliates provided the $270 million tranche A revolving credit facility as tranche A revolving lenders.
Apollo announced that funds managed by its affiliates formed a joint venture with Altius Minerals Corporation, a subsidiary of Altius Renewable Royalties, to accelerate the growth of Great Bay Renewables, an Altius subsidiary and provider of renewable energy development capital.
SourceHOV, Novitex Holdings and Quinpario Acquisition will combine to create Excela Technologies, an industry-solutions provider for financial technology and business services. Royal Bank of Canada and Credit Suisse will provide debt financing to support the merger.