Akin Advises Apollo in Expansion of Its Asset-Backed Strategy with Cornerstone Commitments

(New York) – Akin has advised Apollo Global Management in its newly established Asset-Backed Finance (ABF) franchise and in ATLAS SP Partners—two core components of Apollo’s broad asset-backed strategy—to directly originate an increasing share of the $20 trillion global asset-backed financing market. Apollo has received cornerstone capital commitments to the strategy from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

Apollo’s newly established ABF franchise is part of its credit business and lends against a diverse array of asset types. ADIA’s commitment is a critical step forward for the ABF Franchise, building on the more than $100 billion Apollo manages in asset-backed instruments.

ATLAS SP Partners is a securitized credit origination business majority owned by Apollo affiliates. ATLAS SP is now expected to support approximately $15 billion of new warehouse financing commitments, in addition to the approximately $40 billion of commitments under management by ATLAS SP, with substantial additional capital raising underway. ADIA’s commitment to ATLAS SP Partners will bolster its capacity to provide warehouse financing solutions.

To learn more about the transaction, click here.

The Akin tax team that advised Apollo was led by partner Alex Specht and included partner Patrick Fenn, counsel Julie Geng and Ekaterina Lyashenko, senior practice attorney Leah Karlov and associates Jeff Whalen and Tim Higgins.

Akin is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East.

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