Apollo Purchases $8 Billion in Credit Suisse Assets From UBS

Paul, Weiss is advising Apollo Global Management and ATLAS SP Partners, L.P. in Apollo's acquisition of $8 billion of senior secured financing facilities from UBS Group AG. The agreement will mark ATLAS' evolution into a fully independent securitized credit origination platform and the final step in UBS' carve-out of Credit Suisse's Securitized Products Group. Under the terms of the transaction, ATLAS SP will conclude its transition services and investment management agreements with UBS.

ATLAS SP, which launched in February 2023, was created out of Credit Suisse's securitized products business-a transaction on which Paul, Weiss also advised. Apollo, through its affiliates, is the majority shareholder of ATLAS SP and serves as a long-term capital partner to the company, alongside additional third-party capital partners.

The Paul, Weiss team is led by corporate partner Anastasia Peterson and includes partners Robert Tananbaum, Matthew Goldstein, Gregory Ezring, Manuel Frey and Robert Zochowski, and counsel David Levine and Mikhel Schecter; tax partner Brian Grieve; litigation partner Gregory Laufer; restructuring partner Sean Mitchell; executive compensation counsel Jake Glazeski; and international trade counsel Richard Elliott.