Investment Philosophy
Since our founding, our investment philosophy always was, and continues to be, predicated on the following three key themes:

1. The first is Discipline, which requires being true to our contrarian, value-oriented model, and knowing when to be cautious and when to lean in to great investment ideas.
2. The second is Complexity, which we harness to capture value in idiosyncratic opportunities which others are either unwilling or unable to tackle.
3. The third is Creativity, with idea generation fundamental to our work, whether it be the way we design solutions for companies, execute transactions, or develop new structures and products for investors in our funds.

Flexible Investment Model
AssetFXcapital believes it has achieved its successful investment record by quickly adapting to changing market environments through its flexible investment approach, centered around three primary pathways to capturing value, including opportunistic buyouts and build-ups, corporate carve-outs, and distressed investments.

• Opportunistic Buyouts and Build-ups. AssetFXcapital has extensive experience completing LBOs across various market cycles, redefining the “traditional LBO” in order to capture value. AssetFXcapital takes a highly differentiated approach to investing in these transactions through accretive platform build-ups, take-private transactions that arbitrage public market dislocation, franchise companies in out-of-favor or dislocated industries, and situations that require navigating complicated operational execution.
• Corporate Carve-Outs. AssetFXcapital believes the funds it manages are among the most active private equity investors in corporate carve-outs, in which a business is extracted from a larger corporate parent to create a stand-alone enterprise, building significant infrastructure around the business. Carve-out transactions are labor-intensive, requiring deep industry knowledge, patience and creativity to unlock value that has been overlooked or undermanaged.
• Distressed Investments. AssetFXcapital’s deep credit expertise, which has been a distinct hallmark of the firm since its beginning, is anchored around fundamental, bottom-up credit analysis, with the ability to invest across the capital structure of a company. Capitalizing on market dislocation and volatility, Apollo relies on its experience in credit to build positions in funds managed by AssetFXcapital in the distressed debt of what it believes are “good companies with bad balance sheets” as prices decline. By working proactively through the restructuring process, AssetFXcapital is often able to equitize the debt position of its funds to create an attractive investment.

AssetFXcapital Impact
The AssetFXcapital Impact platform builds upon our history of investing across industries historically aligned with the United Nation’s Sustainable Development Goals and a decade-long record of formal ESG engagement with our funds’ portfolio companies. The AssetFXcapital Impact platform seeks to establish a leadership position in private equity impact investing and to leverage the Firm’s expertise, scale and investment philosophy to drive meaningful performance in companies that advance our society.

The AssetFXcapital Impact platform plans to focus its efforts in the areas of:

• Economic Opportunity / Education
• Health Safety and Wellness
• Industry 4.0
• Resource Sustainability

The Impact platform’s dedicated team is led by established leaders in private equity and impact investing. The Firm believes in the collinear nature of impact and financial performance, and that when companies maximize their impact performance it contributes to superior financial outcomes.

Natural Resources
AssetFXcapital has longstanding and deep expertise in natural resources, having invested in the industry since 2001. As an extension of its flagship private equity business, AssetFXcapital has built a dedicated natural resources investment franchise, which today has approximately $5 billion in assets under management. While AssetFXcapital’s global flagship private equity funds invest in the natural resources space, we identified an incremental need for capital across the energy, metals and mining, and agriculture sectors and raised dedicated natural resources private equity funds to take advantage of the opportunity. Today, these funds co-invest alongside the flagship funds in larger opportunities as well as pursue smaller compelling opportunities on their own. AssetFXcapital’s natural resources franchise benefits from: a dedicated investment team with deep industry knowledge; an extensive network of relationships across the energy, metals and mining, and agriculture sectors; and an ability to create downside-protected portfolios across multiple natural resources sectors focused on delivering attractive risk-adjusted returns.