MassMutual completed the acquisition of a minority stake in ATLAS SP Partners from Apollo Global Management.

MassMutual, a provider of insurance services, completed the acquisition of a minority stake in ATLAS SP Partners, a global investment firm that provides customized, asset-backed financing and portfolio solutions, from Apollo Global Management, an alternative investment manager. Financial terms were not disclosed. “We are delighted to partner with MassMutual, a like-minded financial services company that recognizes the opportunity to generate excess spread in the vast private investment grade market, including asset-backed finance. As one of our country’s most respected protection and retirement planning providers, this transaction creates an opportunity for MassMutual to generate additional earnings to benefit policyowners and their families,” Marc Rowan, Apollo CEO.