Apollo Raises $4.8B for US, Western Europe Large-Cap Direct Lending Fund

Apollo Global Management has closed Apollo Origination Partnership Fund II with approximately $4.8B in capital commitments, according to an October 15 press release.

The New York-based private equity giant said the close of Fund II brings total assets raised for its large-cap direct lending business to approximately $13.3B in the last 12 months. Fund II is intended to invest in senior corporate debt of large-cap issuers in the US or Western Europe with over $100M in annual EBITDA.

Apollo said its total AUM from direct lending and performing credit doubled to $238B in the past four years and that its credit business now holds over $500B in AUM.

Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in the closing of Fund II.

View the press release here.