In February 2018, Starboard entered into a strategic partnership with Apollo Global Management, LLC (“Apollo”) to jointly pursue investment opportunities in assets experiencing special situations in Brazil.
As part of the agreement, Apollo funds have the opportunity to jointly invest in businesses originated and managed by Starboard. Funds managed by Apollo own a minority interest in a Starboard affiliate and seat on the group's Board of Directors.
SAO PAULO - February 16, 2018– Starboard Restructuring Partners (“Starboard”) is pleased to announce that it has entered into an agreement with certain investment funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo” ) (NYSE: APO) to pursue special corporate situation and distressed investment opportunities in Brazil. The investment platform will allow Apollo to leverage Starboard's experience and expertise in distressed investing in Brazil, and Starboard to benefit from Apollo's considerable capital base.
As part of the agreement, the Apollo Funds will have the ability to invest alongside Starboard in Brazilian investment opportunities sourced and managed by Starboard. The Apollo Funds will also own a minority equity interest in a Starboard affiliate and will have representation on Starboard's board of directors.
“We are excited to be collaborating with Apollo, one of the premier global alternative investment firms and a leader in distressed investing. Our agreement with the Apollo Funds provides further validation of our business model and strategy, and helps to cement Starboard's position as a leader in Brazilian distressed investing and special situations. This investment platform brings expertise and significant capital to our target market, whilst Starboard to retain operational independence and investment freedom. The environment for distressed investing in the region has never been stronger and opportunities Starboard believes there are substantial opportunities that we look forward to pursuing together with the Apollo Funds. On behalf of Warley Pimentel, myself, and the Starboard team, we thank Apollo for its support and look forward to building a long and productive relationship,” said Fabio Vassel, Managing Partner at Starboard.
“We look forward to working closely with Fabio, Warley and the rest of the Starboard team. Starboard is a recognized leader in Brazilian restructurings and special situations, and the team has a high degree of professionalism, product and market expertise, and a value-oriented culture, all of which Apollo looks for in our investment partners,” said Rob Ruberton, Global Head of Illiquid Credit at Apollo. “We are excited about this platform, as we believe the combination of Starboard's outstanding capabilities, entrepreneurial spirit and local network together with Apollo's resources will allow us to drive strong performance for our respective investors,” Trevor Winstead, Managing Director at Apollo, stated.
About Apollo Global Management
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had total assets under management (AUM) of approximately US$249 billion as of December 31, 2017 in private equity, credit and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources.For more information about Apollo, please visit https://www.apollo.com/.
About Starboard Partners
Starboard is a Brazilian alternative investment management firm focused on special situation and distressed investing, advisory services and the provision of interim management. Starboard provides bespoke solutions for businesses with inefficient capital structures while simultaneously protecting and enhancing value for stakeholders. Its extensive experience and credibility with market participants in the Brazilian restructuring space allows Starboard to find unique investment opportunities and provide solutions to highly complex situations that are in the best interest for the long-term success of its clients. For more information, please visit www.starboardpartners.com.br.
Source: Starboard Partners
Starboard Partners
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