LPFA appoints Apollo as alternative credit manager

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The London Pensions Fund Authority (LPFA) announced that it has selected an affiliate of Apollo Global Management, LLC and its subsidaries (Apollo) as its alternative credit manager.

Apollo is set to overseethe LPFA’s £15m allocation to alternative credit including distressed debt, real estate debt, leveraged senior loans and private lending. The appointment was made after a two-part tender process, which saw approximately 35 managers shortlisted to four, before the final selection.

Apollo’s mandate will be unconstrained and target absolute returns by investing across a number of higher yielding debt markets. While it is expected that the majority of investments will be made within developed markets, there is also scope for allocations to emerging markets.

ABOUT THE AUTHOR
Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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