Apollo's ATLAS SP Forms $5B Strategic Partnership With BNP Paribas
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Apollo Global Management, Inc. APO, its subsidiary — ATLAS SP Partners (“ATLAS”) — and BNP Paribas BNPQY announced a strategic financing and capital markets collaboration.
According to the terms of the collaboration, BNP Paribas will make a substantial day-1 financing commitment of $5 billion, which is likely to surge over time.
Along with a capital markets partnership to support securitizations procured by Apollo and ATLAS issuer clients, the commitment supports investment-grade, asset-backed credit generated by the two companies.
Apollo, alongside its subsidiary Athene and BNP Paribas, announced a strategic partnership in 2022 with the introduction of Eliant Inventory Solutions LP, a platform that offers flexible financing options for supply chain and working capital requirements.
More on Apollo, ATLAS and BNP Paribas Collaboration
This collaborative partnership demonstrates the power of ATLAS' distinct origination capabilities and differentiating strategy and involves one of the largest-ever bilateral financings for directly-originated credit assets.
In close cooperation with BNP Paribas, this deal demonstrates how Apollo and ATLAS are growing their relationships with top international banks and builds on Apollo and BNP Paribas's current partnership to offer inventory finance solutions via the Eliant platform.
ATLAS, being a fully integrated and scaled origination platform, is an ideal partner for institutional borrowers seeking storage and other investment-grade asset-backed solutions. This collaboration with BNP Paribas builds on ATLAS' current strong relationships with other financial institutions. It should help accelerate ATLAS's expansion and entire array of customer capabilities.
Management Remarks
John Gallo, Head of Global Markets Americas & Global Head of Institutional Client Group at BNP Paribas, said, “Our Global Markets business is continually evolving to serve our clients, and today’s news is a testament to this strategy. This collaboration leverages our leading securitization structuring and distribution capabilities to support ATLAS in financing the real economy, while also being complementary to the client franchise and growth objectives of both firms.”
Olivier Osty, BNP Paribas Head of Corporate & Institutional Banking Global Markets, stated, “BNP Paribas is an international banking organization offering exemplary client service as well as cutting-edge financing, hedging, and investment solutions in the Americas and worldwide. We are pleased to deepen our collaboration with Apollo and ATLAS through this strategic transaction and look forward to further building our business with them both.”
