Apollo Partners BNP Paribas on Inventory Solutions

Global asset manager Apollo Global Management and its insurance subsidiary Athene on Monday (Jan. 24) announced a partnership with global bank BNP Paribas to create Eliant Inventory Solutions LP, a platform that offers working capital and supply-chain help.

Eliant offers companies “strategic and responsive inventory capital solutions to better optimize their supply chains and balance sheets and buffer inventories,” according to the press release.

“Together with Athene, we have established Eliant to serve the growing market for flexible inventory and trade finance solutions, while helping our clients access high-quality, recurring asset origination,” said Apollo Partner Ephraim Rudman.

“More and more companies are looking for economically efficient ways to strengthen their supply chains and bolster resiliency, while traditional financing sources have largely stopped originating these assets — creating a significant opportunity for us to engage as a solutions provider,” he said.

Through the partnership, BNP Paribas will provide Eliant with debt and receivables financing, along with structuring advisory and referral services. Athene will be the primary capital provider to Eliant, while Apollo will act as the investment manager, supporting Eliant’s in-house team.

“The bank has established expertise in understanding the complete spectrum of supply chain financing solutions, including inventory,” said BNP Paribas Head of Trade & Treasury Solutions Americas Suresh Subramanian in the joint announcement.

“Supply chain resiliency and working capital efficiency are key concerns of corporates, and through this strategic relationship with Apollo, we reinforce our commitment to innovative solutions that enable clients to quickly adapt to the challenges of the real economy,” he said.

Related: SoftBank-Backed Greensill Capital Seeks UK Insolvency Protection

In March, London-based Greensill Capital filed for insolvency protection following the takeover of its banking services division by U.K. regulators and the freezing of its funds by the Credit Suisse Group.

The company talked with Apollo and Athene during its insolvency process. Greensill had acquired several FinTech firms, including Finacity Corp., Earnd and Omni Latam.