Apollo and Belstar to form a joint venture.

Apollo, an alternative asset manager, and Belstar, an investment management firm, agreed to form a joint venture. Financial terms were not disclosed. “We have been exploring the market opportunity in Korea with a heightened degree of interest for several years, and are delighted to partner with Belstar to address the market need for alternative forms of liquidity and credit in Korea. We are optimistic this joint venture will serve as a starting point for Apollo's long-term presence in Korea,” Matt Michelini, Apollo Partner and Head of Asia Pacific.