An affiliate of Apollo Capital Management has selected US Bank as trustee, collateral administrator and custodian for its recent ALM Funding 2010-1 transaction.
US Bank will be responsible for compliance oversight, collateral maintenance, noteholder communication and processing of principal and interest payments. The $325m portfolio of assets for this transaction will primarily consist of senior secured bank loans.
Bryan Calder, president of corporate trust services at US Bank, said: “The US Bank Corporate Trust Services team is excited to expand its relationship with Apollo. We are pleased to see a new collateralized loan origination (CLO) financing come to market and are particularly excited about working with the Apollo team on this transaction.”
Apollo is an alternative asset manager with offices in New York, Los Angeles, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of over $53bn as of December 31, 2009, in private equity, credit-oriented capital markets and real estate funds invested across a core group of nine industries.