Apollo, a New York-based global alternative asset manager, has closed its $2.4 billion Apollo Accord+ Fund, its multi-asset opportunistic credit offering.

Accord+ is a closed-end fund that primarily targets performing, dislocated, privately-originated and asset-backed credit opportunities centered on what Apollo believes represents attractive relative value based on market conditions. The new commitments bring total fundraising for the Accord strategy to approximately $11 billion since its inception, of which $4.5 was raised in the past 12 months.

“Accord+ is designed to provide investors with an efficient, streamlined offering that harnesses the depth and breadth of expertise resident within Apollo’s Credit platform,” says Chris Lahoud and Tristam Leach, partners at Apollo. “The fund builds upon our significant experience and established track record in managing our Accord strategy and other related mandates.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in connection with the closing of the Apollo Accord+ Fund.