Apollo’s Atlas SP Gets License to Start Secondary Trading
- Firm has been reaching out to bond buyers to facilitate trades
- The strategy will support Atlas’ primary issuance franchise
Atlas is central to Apollo Chief Executive Officer Marc Rowan’s ambitions to build a credit machine that rivals Wall Street banks.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Apollo Global Management Inc.’s structured credit business Atlas SP Partners received its broker-dealer license and is preparing to start secondary trading, according to people with knowledge of the matter.
In recent weeks, the firm has told structured credit investors that it will be able to soon facilitate secondary trades under the name Atlas SP Securities, a division of Apollo Global Securities LLC, the people said, asking not to be identified discussing confidential matters. The strategy, still in its early days, will support Atlas’ primary issuance business, the people said.