Hybrid is a flexible strategy across credit and equity that structures each investment around the opportunity. It is an all-weather approach designed to pursue return potential with downside protection, which can improve portfolio diversification.
FOR RETURN
Hybrid targets equity-like returns without requiring full equity exposure, accessing upside participation through bespoke structuring.
FOR RISK
Hybrid combines credit-oriented structural protection with the performance potential of equity participation, delivering both in a single strategy supporting strong risk management.
FOR DIVERSIFICATION
Hybrid adds differentiated exposure across the capital spectrum to complement traditional credit and equity allocations and potentially enhance risk-adjusted returns through cycles.
As of March 31, 2026
Access opportunities across the capital structure.
For over a decade, Apollo has committed billions of our own capital into Hybrid strategies alongside our clients with commitments to continue that growth, representing our long-term conviction that this is where the strongest risk-adjusted returns in capital markets are found.
Downside Protection
Hybrid approaches downside protection as a guiding principle, applying the risk discipline of credit to every investment from the start while seeking equity-like returns through value orientation and a focus on capital preservation.
Consistency Across Market Environments
By investing across both credit and equity, Hybrid can adapt to changing conditions, seeking to generate steady returns in any market environment.
Flexibility in Structure
Because Apollo operates with expertise across the full spectrum of credit and equity, Hybrid strategies are inherently solutions-oriented and can adapt as situations change to access value that other strategies may not reach.
Strong Risk-Reward Framework
The goal is not the highest return or the lowest risk; it is the optimal ratio between the two.
References to protection are not guarantees against loss of investment capital or value.
Matt Nord
Partner, Co-Head of Private Equity and Head of Hybrid
APOLLO ACADEMY
Contact Us
Speak with our Global Wealth Solutions team to explore how Hybrid strategies fit your platform and your clients' portfolios.
