About This Fund
Apollo Accord+ Fund II is a $4.8 billion opportunistic credit fund managed by Apollo Global Management, one of the world's largest alternative asset managers with over $700 billion in total AUM. The fund achieved final close in May 2025 as part of a broader $8.5 billion capital raise for the Accord+ strategy — the firm's second vintage opportunistic credit platform that also includes separately managed accounts and related structures. The Accord+ franchise, launched by Apollo's credit division, represents the firm's flagship vehicle for capturing high-conviction credit opportunities across the public and private credit spectrum during periods of market dislocation and structural change.
Accord+ Fund II employs a flexible, opportunistic investment approach across three primary buckets: high-quality, top-of-capital-structure investments in private corporate credit, asset-backed finance (ABF) transactions involving specialty finance assets and structured products, and secondary market opportunities in credit instruments. The fund tactically allocates across these strategies based on prevailing market conditions and relative value, enabling the portfolio to pivot toward the most attractive risk-adjusted return opportunities as credit markets evolve. The investment team targets holdings with strong covenant packages, downside protection, and identifiable catalysts for value realization.
Apollo's credit platform manages over $500 billion across direct origination, broadly syndicated leveraged loans, structured credit, and investment-grade strategies. The Accord+ Fund II's $4.8 billion final close reflects Apollo's continued ability to attract large-scale LP commitments from institutional investors globally, including sovereign wealth funds, pension funds, insurance companies, and endowments. The Accord+ franchise has established itself as one of the premier vehicles in institutional opportunistic credit investing.