Apollo S3 Co-Investment Fund Taps LLoyds for Sub-line: Fund Finance

Ares private opportunities fund signs up for credit line with Abu Dhabi lender

Lloyds Bank rarely shows up as a provider of subscription credit lines to US funds. The same can be said for First Abu Dhabi Bank USA, which primarily reports aircraft financing deals. But the lead story this week focuses on an Apollo co-investment fund that consecutively took out sub lines from both lenders, originally from First Abu Dhabi and now from Lloyds.

Meanwhile, an Ares fund, possibly for employees, signed up for a sub line with another Abu Dhabi lender. Goldman’s second secondaries fund that specializes in infrastructure deals chose to borrow against its capital commitments through France’s Societe Generale. And there are more subscription credit lines in the table that follows.