Apollo Global Management has closed $8.5bn in commitments for its Accord+ strategy, including $4.8bn for the second vintage of the Accord+ Fund.

The oversubscribed raise exceeds internal targets and brings Apollo’s hybrid and opportunistic credit platform to nearly $40bn in assets under management.

The Accord+ II Fund targets high-quality credit investments across the capital structure, including private corporate credit, asset-backed finance, and secondary opportunities. Backed by a broad global investor base—ranging from pension funds and sovereign wealth funds to financial institutions and family offices—the fund is designed to deploy flexible capital in market environments marked by volatility and dislocation.

“As rates stay higher-for-longer and volatility impacts capital flows, we see an attractive market for opportunistic credit investments,” said Chris Lahoud, Partner and Head of Opportunistic Credit at Apollo.

John Zito, Co-President of Apollo Asset Management and Head of Credit, added, “We are pleased to see strong investor demand for the latest vintage of our Accord+ series. Accord+ is also a great illustration of our focus on product innovation, building upon the original Accord dislocation strategy to respond to investor needs.”

Apollo plans to continue expanding the Accord strategy family with future vintages and tailored credit solutions targeting institutional and wealth investors.

Source: Apollo