Apollo Management L.P., Leon Black’s (pictured) global private equity firm, is believed to be considering the launch of a new Asia credit fund. Esteemed structured credit and special situations veteran, Chin Hwee Tan, who heads up the Asia office in Hong Kong, would be managing the fund, which, unlike Apollo’s Asia Opportunities Fund, would have a longer lock-up period, reports AsiaHedge this week. No further details are known at this stage. Tan, who prior to joining Apollo was a managing director at Amaranth for seven years during which time he pioneered a number of private and public investment opportunities in Asia markets, has also this month been appointed as an independent Non-Executive Director for K-REIT Asia Management Ltd. Tan was unavailable for comment at the time of writing. The Apollo Asia Opportunity Fund has an Asia ex-Japan mandate and aims to deliver risk-adjusted returns by targeting event-driven volatility. It invests primarily in securities of public and private companies raising capital for acquisitions, distressed financings and other special situations.