Investment Management Corporation of Ontario (IMCO) has announced that the company has committed 250 Million USD to Apollo Global Management In New Accord Fund III Series B. The proposed funding would be used by the company to enter the market during periods of illiquidity and dislocation. The Global Credit Team of the Investment Management Corporation (IMCO) has closed its commitment on April 23, 2020, making its one of the world’s largest investment managers.
Managing Director at Global Credit, Jennifer Hatviksen said, “Our participation in this fund demonstrates how nimble our team can be in seeking valuable opportunities for our clients.”
“This is an example of IMCO adapting to market conditions and exploiting our liquidity very quickly so that clients have access to dislocated opportunities as they arise,” Jennifer Hatviksen further added.
Senior Managing Director at Private Equities and Credit, Christian Hensley said, “As our program scales, we are initially relying on experienced strategic partners.”
“The investment in this Fund is an example of the types of opportunities we’re pursuing — investments with sponsors that we believe have deep expertise, delivering diversifying and differentiating exposures, who are transparent, opportunistic, and value-oriented,” Christian Hensley further added.
The Investment Management Corporation of Ontario manages more than 70.3 Billion USD of assets on the behalf of its clients. It is the mission of the company to provide broader investment management services to its clients by adopting different strategies.
The Investment Management Corporation of Ontario (IMCO) has further added that it has recently launched its Global Credit Program to contribute additional diversification benefits and to provide higher risk-adjusted returns than traditional fixed income.
The fundamental approach and expertise of Apollo Global Management allows for selective deployment during market volatility and stability that is totally in line with recommendations of the Investment Management Corporation of Ontario (IMCO).