09:38 AM EDT, 09/20/2024 (MT Newswires) -- Apollo (APO) said Friday its majority-owned Atlas SP Partners warehouse finance affiliate has received a $5 billion funding commitment from BNP Paribas supporting investment-grade, asset-backed credit facilities and securitizations originated by both organizations.

The $5 billion funding commitment is expected to increase over time, the companies said.

Athene, another Apollo subsidiary, and Paris-based BNP Paribas previously began a similar strategic partnership in 2022 to provide working capital and fund supply chain needs for inventory companies.

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