Apollo is in the market with a $400 million CLO that was arranged by JPMorgan.

The CLO, named ALM Loan Funding 2010-3 Ltd. will be managed by Apollo Credit Management and will consist of a $262 million triple-A-rated tranche, a $20.5 million double-A-rated tranche, a single-A-rated tranche and a triple-B-rated tranche. There is also an equity tranche, however, that piece is not being offered to investors.

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