Apollo Global Management has priced ALM VII, a USD722m collateralised loan obligation (CLO), the largest broadly syndicated CLO issued in the US in 2012.
ALM VII will invest in corporate leveraged loans and high yield bonds.
Apollo has priced three CLOs this year, raising approximately USD1.7bn in aggregate, which represents the largest capital raise through CLO issuance among all US CLO managers. In February 2012 Apollo closed ALM V, a USD437m CLO, and in June 2012 Apollo closed ALM VI, a USD514m CLO.
Apollo is one of the largest CLO managers with 26 CLOs totalling over USD14.5bn in assets under management. Apollo’s CLO strategy is part of Apollo’s Capital Markets business, which had total assets under management of USD56bn as of 30 June, 2012.