Apollo said the acquisition is aligned with its strategy to broaden its existing traditional fixed income business and, upon closing, is expected to bring the assets under management of Apollo’s capital markets business to approximately $27bn. Apollo’s senior loan business is expected to exceed $14bn upon closing of the transaction.
Founded in 2002, Gulf Stream is an asset manager primarily focused on the US corporate credit markets for premier global institutional investors.
Mark Mahoney, founder & president of Gulf Stream Asset Management, will be joining Apollo as a partner.
Apollo Global Management Capital Markets Business managing director James Zelter said this transaction is a strategic extension of the CLO franchise.
