Sector developments and company hires

Apollo launches new platform for global wealth investors

Apollo Global Management has launched an investment platform aimed at global wealth investors, as the firm looks to expand its wealth business outside of the US. Apollo Private Markets SICAV, which will offer investors in EMEA, Asia and Latin America tailored access to a portfolio of alternative investment products, has received regulatory approval from Luxembourg’s CSSF.

The new platform has launched with two investment strategies — one offering broad private market exposure and the other focused on the US private credit market — with more to be added in the coming months. The firm says the structure will enable investors to access strategies in their local currency and with “lower investment minimums than traditional alternative product offerings”.

In other news…

AlbaCore appoints Courey as president

AlbaCore Capital Group has appointed its serving partner and COO Matthew Courey to the newly created role of president. The promotion comes slightly more than a month after Mitsubishi UFJ Financial Group announced the acquisition of a majority stake in AlbaCore via its Australian business First Sentier Investors.

In his new role, Courey will oversee the European credit firm’s overall strategy, product development, risk management, portfolio strategy and operational execution. Courey was a founding partner at AlbaCore and will continue to serve as partner, COO and a member of the firm’s executive committee.

PGIM acquires Deerpath

Prudential Financial’s asset management business PGIM has agreed to acquire a majority stake in US direct lending manager Deerpath Capital Management. The move is intended to accelerate the growth of PGIM’s alternatives platform, specifically in the lower mid-market sponsor-backed space.

Deerpath, which has around US$5bn in assets under management, will operate independently following the deal. It will continue to be led by co-founder and CEO James Kirby and co-founder and COO Tas Hasan following the deal.

EMEA

International law firm Maples Group has appointed former Vistra director and structured finance specialist Fergus O’Donnell as vice president in its Ireland office. O’Donnell leaves his role as director and head of client services at Vistra after four years with the securitisation-focused service provider.

The appointment coincides with three other senior hires by Maples in Ireland. Vice president Shane Toomey has relocated from Hong Kong to take on the role of head of company secretarial, while Siobhán Lawlor — formerly of Aero Capital Solutions and Alter Domus — and former Dubai Aerospace Enterprise financial controller Charlie McGinley have joined as senior vice presidents.

WFW promotes seven structured finance lawyers

Watson Farley & Williams has promoted seven structured finance lawyers to partner in this year’s round of global partnership promotions. Accounting for the majority of the 11 total partnership promotions, the legal professionals promoted across WFW’s global assets and structured finance practice will bring the firm’s total number of partners to 195.

Promotions include that of aviation and maritime sector specialist Laura Cadenas in the firm’s Madrid office, as well as shipping-experts Marinos Papadopoulos and Emily Widdrington in London. Philip Jackmauh has been promoted to partner in WFW’s New York office, whose practice centres on commercial aircraft leasing and finance, and Shusuke Fukunaga, Ricky Kim, and Richard Williams have been promoted to partner across the firm’s Asian structured finance teams in Tokyo, Seoul, and Singapore, respectively.