Frequent securitization managers Apollo, ATLAS SP Partners and BNP Paribas are in a strategic securitization partnership that will bring $5 billion of new asset-backed bond deals to market.
In the collaboration, BNP Paribas, the European Union's leading global bank will commit the $5 billion in financing to support investment-grade, asset-backed credit that ATLAS and Apollo will source from their issuer clients. Apollo funds owns a majority of ATLAS SP Partners, a warehouse finance and securitized products business.
ATLAS SP has become a familiar lead underwriter on a range of deals, since Apollo launched it in February 2023, after carving out the Securitized Products Group from the former Credit Suisse.
Jim Zelter, a co-president at Apollo, said in a statement that the partnership includes one of the industry's largest-ever bilateral financings for directly originated credit assets.
"This collaboration leverages our leading securitization structuring and distribution capabilities to support ATLAS in financing the real economy, while also being complimentary to the client franchise and growth objectives of both firms," according to a statement from John Gallo, head of global markets Americas at BNP Paribas and global head of its institutional client group.
