Apollo Global Management Inc. received a commitment from a unit of the sovereign wealth fund Abu Dhabi Investment Authority (ADIA) for warehouse financing deals by its newly formed Asset-Backed Finance (ABF) franchise and ATLAS SP Partners, its securitized credit origination business.  

Including ADIA’s commitment, the size of which was not disclosed, ATLAS SP is expected to support roughly $15 billion in new warehouse financing commitments in addition to the roughly $40 billion it currently has under management.  

With the ABF franchise, ADIA’s investment is building on the more than $100 billion Apollo manages today in asset-backed instruments, a number it expects to grow significantly in the coming quarters. 

Apollo described the asset-backed strategy effort as directly originating an increasing share of $20 trillion global asset-backed financing market. “As the global fixed-income market evolves, our strategy of scaled fixed income replacement is expanding into a broader array of private credit solutions,” said Apollo Co-President Jim Zelter. 

In February, Apollo completed its substantial first close of which affiliates of Apollo purchased a significant portion of the Securitized Products Group from Credit Suisse. ATLAS SP Partners CEO Jay Kim, previously managing director and head of securitized products at Credit Suisse, heads the firm. 

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