Fund database › Private Credit
Apollo Global ManagementLU2644392131Class I2 EUR Acc
The sub-fund brings Apollo's European direct lending into evergreen format: senior secured loans to large and mid-sized companies, as a Luxembourg Part II SICAV with a master structure, launched in 2024, accumulating.
Monthly subscription; quarterly redemption with roughly one month's notice; the quarterly gate is measured across the overall structure. Notably: neither a lock-up nor a redemption charge — the exception in the Part II field.
Subscription from EUR 25,000, for professional and retail investors depending on the country; not registered for distribution in Germany.
The Part II variant of Apollo's European credit strategy — the same house's retail-eligible ELTIF counterpart sits separately in this database. The complete absence of holding and penalty mechanics relies on the natural liquidity of credit portfolios: interest and repayments replace the corset here.
Figures for class I2 EUR Acc (LU2644392131) · product data 12 Oct 2026 · sources: prospectus (as at 1 Jun 2026), PRIIPs-KID — full list under 08 documents.
Since the data series began in Aug 2024, the unit price has gained 6.2% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
24 monthly values · Source: price feed / provider document · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. The fund has been running since Apr 2024; a reliable NAV series of the class is available from Aug 2024.
What the prospectus permits: First-lien senior secured direct loans to the European upper-mid-market/large-cap segment; buy-and-hold; liquid sleeve (BSL)
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
The five largest holdings account for 20.6% of the fund. 1.3% is held in the liquidity reserve — enough for less than one month of maximum redemptions.
Focus according to fund documents: Diversified, no sector breakdown 100%
Focus according to fund documents: Europe 100%
Among the ten largest: 10 loans.
Financing company ("Finco") domiciled in Jersey within the "Harp" acquisition structure through which a consortium of CVC …
Asda is one of the largest supermarket chains in the UK, headquartered in Leeds, operating supermarkets, convenience stores, fuel stations and online retail nationwide.
Family-run German hospital operator headquartered in Prien am Chiemsee, running specialist clinics for orthopedics, neurology, psychosomatic medicine and internal medicine, among others …
Luxembourg financing vehicle of the Athens-based Intralot group, an Athens-listed provider of lottery …
UK holding and financing company within the capital structure of Paymentsense (Dojo brand) …
UK acquisition vehicle (bidco) in healthcare, incorporated in 2025 and since renamed Maxilla Dental Bidco Limited.
UK acquisition company (bidco) through which a financial sponsor acquired a business in the financial services sector.
Paisley Bidco is the Guernsey-registered acquisition company of PIB Group, a UK insurance broking and insurance services group with operations in the United Kingdom …
Italian holding company (Made in Italy 2 S.p.A.) in the apparel and luxury goods sector, financed through private credit.
Swedish intermediate holding company through which Karo Healthcare is financed …
Provider figures for the credit portfolio, not calculated by semiliquid.info. Providers report yield, remaining life and credit ratings under differing definitions — the basis of calculation is therefore shown with every figure. A comparison across funds only holds where the basis is the same.
Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; holdings as at 31 Dec 2025, reserve as at 31 Jul 2026; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
Cost figures of the main class according to provider documents. On top comes a performance fee of 12.50% above a hurdle of 5% — with a high-water mark.
Based on the PRIIPs key information document of class I2 EUR Acc, hence comparable across providers.
Units can be subscribed monthly. The price is the NAV at the end of the previous month — it is not known when the order is placed and is published only 25 business days later.
5 business days before Dealing Date, 17:00 CET
period capable of being waived at the discretion of the Board and/or the Administrator.
Price = NAV at the end of the previous month.
Valuation Day = last business day of the calendar month.
pre-funding: 4 business days before dealing day
An order placed today is invested in — days (—); the money is due on —. Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Dealing day | 1st business day of the month |
| Cut-off | 5 business days before dealing day · 17:00 CET · (before the anchor date) |
| Price | previous month-end |
| NAV publication | Valuation Day = last business day of the calendar month; NAV per unit available approx. 25 business days after the Valuation Day. |
| Payment | pre-funding: 4 business days before dealing day |
| Minimum investment | EUR/GBP/CHF 25,000; USD 28,000; ILS 100,000 |
| Subscription limit | Acceptance, rejection or deferral to a later Dealing Date at the discretion of the Board; no quantitative cap |
| KYC / documents | 5 business days before Dealing Date, 17:00 CET |
| Business day | banks open for business in Luxembourg, the United Kingdom and the United States (p. 20) |
Dates calculated from the prospectus rules (bank holidays: GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 12 Oct 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate) and without a lock-up. How quickly the money arrives and what happens if many want out at once is set out below.
Gate basis: average of the aggregate NAV of the sub-fund, master fund and parallel vehicles as at the end of …
Price = NAV per share on this day.
5% of the aggregate NAV per calendar quarter, measured without double counting across the sub-fund, the …
redemption day
A request made today is paid out on — — — days; from the cut-off to cash it is — days.
Money typically within half a year — on average 122 days from decision to cash.
Rank 18 of 112 · rank 7 of 31 in Private Credit · no lock-up · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 1 Jun 2026 · score run 16 Oct 2026 · How 122 days become 43 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | quarterly |
| Valuation day | quarter-end |
| Notice | 30 calendar days before redemption day · 17:00 CET |
| Price | quarter-end |
| Payout | 30 business days after redemption day |
| Gate | 5% net of NAV (additional limit on liquid investments) per quarter; redemption only to the extent that the feeder can redeem corresponding units in the master fund |
| Scaled-back portion | scaled-back portion lapses; new request required, no priority |
| Lock-up | none |
| Suspension | material detriment to the fund/investors; NAV suspension; protection of remaining investors |
| Liquidity tools | Suspension of NAV and redemption, quarterly gate of 5% net, pro-rata scale-back, lock-up of the IL classes, liquidity reserve and credit line. |
| Switch / transfer | permitted with the consent of the Board; silence within 30 business days is deemed a refusal |
| Compulsory redemption | Prohibited Person; falling below the minimum holding or the eligibility criteria; early compulsory repurchase once all investments have been sold |
5% of the aggregate NAV per calendar quarter, measured without double counting across the sub-fund, the Master Fund and any Parallel Entities on the basis of the average NAV at the end of the immediately preceding quarter; exceptions in exceptional circumstances.
The 5% gate is measured not at the level of the sub-fund alone but on an aggregated basis across the sub-fund, the master fund and any parallel entities - the basis is the average NAV at the end of the preceding quarter.
Dates calculated from the prospectus rules (bank holidays: GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 12 Oct 2026 · Documents: 08.
6 classes. All cost and risk figures on this page refer to the basis class I2 EUR Acc.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Prospectus | 1 Jun 2026 | — |
| Annual / semi-annual report | 31 Dec 2025 | — |
| Annual / semi-annual report | 30 Jun 2025 | — |
| NAV series price feed / provider document | 31 Jul 2026 | Performance (01) |
| Positions and reserve | 31 Dec 2025 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption quarterly, notice period 30 calendar days before redemption day, with 5% gate per quarter. Subscribing today, it takes on average 122 days from decision to cash under the prospectus deadlines; a gate is not factored in.
25,000 EUR in class I2 EUR Acc.
Not as a retail investor. According to our evidence, in Germany it is open only to semi-professional investors (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the Apollo European Private Credit - Sub-Fund I. Under the prospectus a gate of 5% per quarter applies.
Same asset class, similar sub-strategy.
Apollo Global Management · ELTIF 2.0 · quarterly
Apollo Global Management · ELTIF 2.0 · quarterly
Apollo Global Management · Part II SICAV · quarterly
Ares Management · ELTIF 2.0 · monthly
Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.