Apollo Closes on $2.4 Billion in Commitments for Inaugural Accord+ Fund

Paul, Weiss advised Apollo in the formation of and fundraising for its Apollo Accord+ Fund (Accord+), its commingled multi-asset opportunistic credit offering, which closed on November 21 with $2.4 billion in commitments.

Accord+ is a closed-end fund that primarily targets performing, dislocated, privately originated and asset-backed credit opportunities centered on what Apollo believes represents the most attractive relative value based on prevailing market conditions. The new capital commitments bring total fundraising for the overarching Accord strategy to approximately $11 billion since inception, of which approximately $4.5 billion was raised in the past 12 months.

The Paul, Weiss team that worked on this fundraise and connected matters included corporate partners Victoria Forrester, Matthew Goldstein, Marco Masotti, Manuel Frey and Brad Finkelstein, and counsel Femi Austin; tax partner Brian Grieve, and counsel Sohail Itani; and executive compensation counsel Jake Glazeski.