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Athene, Apollo acquires majority slice of $1bn-rated lending platform Aqua

30th November 2021 - Author: Charlie Wood

Financial services company Athene has acquired a controlling stake in a consumer lending platform backed with funds managed by leading investment firm Blackstone.

athene-holding-logoAqua Finance’s subsequent valuation sees it hit the $1 billion mark.

Apollo is estimating an $80 billion annual run-rate of asset origination across its platforms, which span commercial and consumer lending.

Apollo’s portfolio of proprietary origination platforms help the firm to originate high-quality, recurring assets for its investors, including Athene.

Jim Belardi, Chief Executive Officer of Athene, noted how Aqua Finance is an exciting opportunity for Athene to invest in a leading consumer finance platform, to provide capital and expertise to continue to grow the business, and to execute on our strategy with Apollo to invest in high-quality origination platforms,”

“We are excited to partner with this new investor group as we enter the next stage of expansion for Aqua,” said Rich Morrin, Aqua’s Chief Executive Officer.

“I am proud of the significant progress we have made in establishing Aqua as an industry leader together with Blackstone and look forward to building on that strong foundation in the years ahead.”

“For more than three decades, Aqua has partnered with merchants to provide flexible consumer lending solutions, and with Athene we look forward to investing in the business and supporting the Aqua team to build on this success,” said Apollo Co-President Jim Zelter.

“For Apollo and Athene, Aqua is highly complementary to our portfolio of diversified origination platforms, extending our access to quality consumer loan flow.”

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