Apollo Partners and Hostplus’ $1.25 Billion Launch of Asia-Pacific Credit Strategy

Paul, Weiss, Rifkind, Wharton & Garrison advised Apollo on the deal.

Apollo announced the formation of a partnership with Hostplus, one of the five largest pension funds in Australia, to launch a new fund, the Asia-Pacific Credit Strategy. The new strategy launches with $1.25 billion in initial assets, following an inaugural fund raise that includes a $500 million anchor commitment from Hostplus alongside Apollo’s internal and affiliated insurance balance sheets.

The dedicated strategy, focused on private credit investments in Australia, India, Singapore, South Korea and Hong Kong, brings Apollo’s global credit platform together with local expertise to capitalize on growing demand for private credit across Asia-Pacific, providing companies and sponsors with flexible and bespoke solutions.

Hostplus has grown to be one of the largest industry super funds in Australia. With over 1.5 million members, more than 250,000 employers and $89 billion in funds under management (as at 20 April 2021), our scale and ongoing growth allows for low member costs and a broad range of investment opportunities.

Apollo is a high-growth, global 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 investing strategies: yield, hybrid, and equity.

The Paul, Weiss team included corporate partner Matthew Goldstein (Picture) and counsel David Levine and Andrew Nichol, and tax partners Brian Grieve and Patrick Karsnitz.

Involved fees earner: Matthew Goldstein – Paul Weiss Rifkind Wharton & Garrison; Brian Grieve – Paul Weiss Rifkind Wharton & Garrison; Patrick Karsnitz – Paul Weiss Rifkind Wharton & Garrison; David Levine – Paul Weiss Rifkind Wharton & Garrison; Andrew Nichol – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: Apollo Global Management;