Belstar Management launched the Belstar Credit Opportunities Fund, which will invest across liquid and private credit opportunities, including both corporate and structured credit assets globally.
With $2 billion in assets under management, Belstar intends to partner for a subset of its program with Apollo to access high quality credit assets originated across Apollo’s global platform.
“We are delighted at the prospect of extending our relationship with Apollo, a leading global credit manager,” said Belstar’s Managing Partner Daniel Yun in a statement. “This launch is part of our broader strategy to further diversify the investment portfolios that we manage and to provide our LPs with access to best-in-class credit investments.”
The firms partnered back in August originally to form a non-bank lending joint venture focused on serving Korea-based companies and sponsors.
“We are pleased to continue supporting the expansion of Belstar’s platform,” said Rob Givone, partner and head of portfolio strategy at Apollo. “This strategy is a natural extension of Belstar’s global credit capabilities and reflects the growing demand from Asian investors for high-quality credit investments.”
Belstar has primarily invested on behalf of institutional investors based in Korea and has a 15-year track record in global corporate and structured credit markets. The firm is also said to have established on of the first foreign funds to register with the Financial Supervisory Services of Korea.
“Credit plays an important role in our strategic asset allocation, and it helps us continually meet our investors’ objective of investing in an asset class that can provide consistent performance while maintaining a focus on downside protection,” Yun added.