Innovative Capital Solutions

Learn how asset-backed finance (ABF) differs from corporate credit, the dimensions that shape an allocation, and the roles ABF can play.

The fixed income playbook is changing with the rate selloff. Portfolios built in a different rate environment may be carrying a rate bet they didn't know they had. Duration has stopped working. Apollo's Ben Trombley breaks down why rates are staying higher for longer — and what investors should do about it.

UK DB pension schemes are better funded than at any point in a generation. Rising gilt yields since 2022 have sharply reduced the present value of liabilities, and years of derisking and strong prior returns have left the aggregate funded position at its strongest in decades. For most schemes we believe the strategic question is no longer how to close a deficit, but how to protect that hard-won position through the endgame, whether that means an insurance buyout or long-term run-on. In both cases the task is the same: to convert the funded position into a portfolio that reliably pays pension cashflows as they fall due, at the lowest cost in capital and risk.