OppenheimerFunds adds Apollo Credit as subadviser
OppenheimerFunds hired Apollo Credit Management, an affiliate of Apollo Global Management, to subadvise its Global Strategic Income Fund, which typically invests in a mix of global fixed-income sectors, said Adam Rochlin, senior vice president, product director of taxable fixed income and alternative investment strategies at OppenheimerFunds.
The addition of Apollo Credit will give investors in the fund access to non-traditional fixed-income market opportunities, including structured credit, middle-market loans, direct real estate investments and insurance-linked securities, a news release said.
GSIF is an open-end fund that has $5.9 billion.
“Apollo Credit Management offers a wide range of alternative investment credit strategies that complement our in-house fixed-income capabilities,” said Arthur P. Steinmetz, chairman, president and CEO of OppenheimerFunds, in a news release. “We are launching our relationship via our marquee fixed-income product and will explore other potential initiatives over time.”
OppenheimerFunds managed $220 billion in assets as of Aug. 31.