Apollo Global Management, the US private equity giant, has launched a new strategy targeting Italian corporate credit opportunities.
The firm has teamed up with Italian investment adviser Apeiron Management to establish the Apollo Delos platform, which will pursue stressed and distressed opportunities, insolvency compositions and non-performing corporate credit.
Apollo and Apeiron will make invest between €5m and €50m per deal through debt and equity in impaired loans, claims and other credit instruments. Apollo Delos seeks to capitalise on Italy’s “strong manufacturing base, ongoing banking reform, and improved bankruptcy legislation”.
Apeiron, led by chief executive and founding partner Alessandro Fracanzani, will be responsible for the origination, due diligence, structuring, execution and management of all transactions.
“We believe the current economic environment and legal reforms have created attractive opportunities for Apollo in the region, and Alessandro and his team bring together the right restructuring expertise and origination capabilities to help us capitalise on these opportunities,” said Robert Ruberton, head of illiquid opportunistic credit at Apollo.