Apollo’s ATLAS SP announces investment from MassMutual

Apollo and MassMutual announced that MassMutual has become a minority equity owner in ATLAS SP Partners and a capital partner to the ATLAS platform. ATLAS is the warehouse finance and securitized products business majority owned by Apollo funds. As part of the multi-billion-dollar commitment, MassMutual has also agreed to invest in Apollo’s Asset-Backed Finance franchise.

These investments will allow MassMutual to access predominately investment-grade, asset-backed credit originated by ATLAS SP and across the broader Apollo ecosystem, alongside Apollo’s retirement services businesses. The commitments will also bolster ATLAS SP’s capacity to provide warehousing and other investment grade asset-backed solutions to the more than 200 financing clients of ATLAS SP.

“We are delighted to partner with MassMutual, a like-minded financial services company that recognizes the opportunity to generate excess spread in the vast private investment grade market, including asset-backed finance. As one of our country’s most respected protection and retirement planning providers, this transaction creates an opportunity for MassMutual to generate additional earnings to benefit policyowners and their families.” – Apollo CEO Marc Rowan.

“This transaction is a unique market opportunity that enables MassMutual to access a scaled origination ecosystem and complements the capabilities of our wholly owned asset manager, Barings. Importantly, it represents a strategic investment within our broad portfolio that helps us deliver on our long-term commitments to our policyowners and customers.” – MassMutual Chief Investment Officer Eric Partlan.