According to IFC website, the project consists of establishing a global DARP facility to buy pools of non-performing loans in several emerging markets. This facility will be funded by IFC and by one or more funds or other investment vehicles managed by affiliates of Apollo Global Management, LLC. The following are the expected development impacts:
1. Capital relief. The project will enable financial institutions to offload their NPLs, strengthening their balance sheets, freeing up capital and generating liquidity and capacity to originate new loans.
2. Market transparency. As financial intermediaries increase the sale of NPLs to private investors, the transparency of these institutions' balance sheets improves, as these assets are priced according to market conditions.
3. Access to finance. The project will facilitate the normalization of obligations of households and small and medium enterprises, preventing a large number of them from losing their assets, regaining access to formal credit, and preserving jobs.
Loan: USD 462.50
Equity: USD 37.50
Apollo is a global alternative investment management firm with a strong track record and expertise in distressed asset (“DA”) investments. Apollo was founded in 1990. As of December 31, 2015, Apollo had a team of 945 employees, including 353 investment professionals, located in 15 offices around the world, including New York, Los Angeles, Houston, Toronto, London, Frankfurt, Luxembourg, Singapore, Hong Kong and Mumbai. As of December 31, 2015, Apollo had US$170 billion in assets under management, including private equity, credit and real estate assets. Apollo was listed on NYSE in 2011 under the ticker APO.
Project Contact: Jamshid Ehsani
Global Head of Principal Structured Finance, Apollo Capital Management, L.P.
Office Address: 9 West 57th St., New York, NY 10019
Telephone No.: +1 (212) 822-0660
Email Address: email@example.com
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