US firm Apollo hired to run credit alternatives for LD
American asset manager Apollo is set to manage a DKK 1.1 billion investment in alternative credit for Danish pension fund Lønmodtagernes Dyrtidsfond (LD).
Danish pension fund Lønmodtagernes Dyrtidsfond (LD) has unveiled its new manager for its DKK 1.1 billion (EUR 147.8 million) alternative credit portfolio, appointing New-York based asset manager Apollo Global Management for the task. Apollo was founded in 1990 by Leon Black, who is still heads up the firm. He came from investment bank Drexel Burnham Lambert, where he had been managing director, head of Mergers & Acquisitions, and deputy head of Corporate Finance
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