Ontario pension group commits to Apollo fund series

The Investment Management Corporation of Ontario (IMCO) committed C$250 million to Apollo Global Management, its first investment with the global private equity giant.

The allocation was to Apollo’s Accord Fund III Series B, which is a fund designed to enter the market during periods of dislocation and illiquidity. The strategy is focused on credit investments that have traded down due to liquidity-driven selling and non-economic reasons.

The investment is housed in the C$70 billion (US$50 billion) fund’s recently launched C$2 billion global credit program. It was set . . .

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