Apollo is set to launch a global diversified long-term asset fund (LTAF) giving UK defined contribution (DC) pension funds access to a private credit portfolio, including private investment grade, large-cap corporate lending and asset-backed finance, in a semi-liquid format.
The fund builds on Apollo’s efforts to bring private market retirement solutions to DC plans in the US and Europe, aiming to give savers access to the same institutional-quality tools that have supported defined benefit (DB) systems for decades.
The LTAF is the first sub-fund under Apollo’s broader Private Market LTAF umbrella, with Carne Global Fund Managers serving as authorised corporate directed and alternative investment fund manager.
In September 2025, Aviva included Apollo among a select group of asset management partners to allocate capital under “My Future Vision”, its new default pension strategy targeting 20–25% private markets exposure.
In February 2026, Apollo and Schroders announced a strategic partnership to prepare a Collective Investment Trust for US DC plans, targeting a Q2 2026 launch.
Jesal Mistry, managing director and UK DC lead at Apollo, described the launch as an “important milestone” as DC plans increasingly seek to “enhance member outcomes and integrate private markets solutions”.
He said: “This LTAF is designed with the aim of being an attractive portfolio construction solution, providing access to diversified multi-sector exposure and strong income generation potential.”
Mistry joined Apollo in January after six years at L&G, where he was head of DC investment, most recently leading the launch of the firm’s private markets offerings for DC.
In his new role, he will drive the growth of Apollo’s DC business in the UK and Europe, making its investment capabilities and product suite available across the DC ecosystem, including trustees, consultants and platform providers.
