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Apollo’s dislocation credit fund gets Florida State Board of Administration backing

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Florida State Board of Administration has committed $180m to Apollo Accord Fund V, P&I reported quoting a new manager report.

Apollo launched the Accord series in 2017 as its dislocated credit offering.

The firm closed Accord Fund IV on $2.34bn last year boosting the assets raised for the strategy to $4.1bn.

The Accord strategy focuses on liquidity provision during times of  of broad-based market stress by purchasing high-quality, secured cross-asset credit risk, the firm said.

The firm has more than $6.3bn in assets under management focused on dislocation credit opportunities as of February 2021.

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