Apollo bulks up credit team as part of Asia expansion
Apollo Global Management has recruited three professionals from Commonwealth Bank of Australia (CBA) to join its Asia Pacific credit business.
Anthony Hermann, who was most recently executive general manager for global markets in CBA’s institutional banking and markets division, will become a partner and head of Apollo’s credit operation in the region. He is joined by Julian Longstaff and Vid Pulavarti.
The new hires are part of the firm’s continued investment and growth in Asia Pacific, according to a source close to the situation. In September, Apollo appointed Matt Michelini as regional head, tasked with overseeing investment and non-investment activities. Steve Martinez assumed the role of vice-chairman of Asia Pacific, while continuing his role as a senior partner for private equity.
Other recent key hires include Ian Bell, formerly of Evercore, as head of institutional client and product solutions for Asia Pacific, and Tetsuji Okamoto as head of Japan private equity.
Apollo has also ramped up its investment activity in the region. The firm has acquired a 50% stake in Australia-based commercial real estate financier MaxCap and taken a minority interest in Australian investment manager Challenger alongside insurance affiliate Athene Holding. Athene also made a pre-IPO investment in Asia-based insurer FWD Group.
Meanwhile, Apollo’s hybrid value strategy – a cross between debt and equity – has invested in India’s JSW Cement and Singapore’s Global Schools Group.
As of June, Apollo had approximately $472 billion in assets under management. There was $339 billion in yield, comprising corporate credit, structured credit, and direct lending, $47 billion in hybrid debt-equity strategies, and $86 billion in equities, which covers private equity, principal finance, real estate, and impact.
The private equity business alone had $75 billion in assets. Apollo closed its most recent global private equity fund on $24.7 billion in 2017.
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