An affiliate of Apollo Capital Management has chosen U.S. Bank as trustee, collateral administrator and custodian for its recent ALM Funding 2010-1 deal, according to a press release issued by U.S. Bank.

U.S. Bank will have responsibility for compliance oversight, collateral maintenance, noteholder communication and processing of principal and interest payments. The $325 million portfolio of assets for this offering will mostly comprise senior secured bank loans.

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