Apollo Global Management has hired John Stratton to work as the chief investment officer of a newly formed Apollo Asset Management Europe entity, PDI understands.
Stratton left UK insurance company Brit Insurance last month to take up the role, according to his LinkedIn profile.
Apollo declined to comment.
Stratton was chief investment officer at the global specialty insurance and reinsurance company for more than three years. The platform underwrites across a broad range of commercial insurance with a strong focus on property, casualty and energy businesses and was acquired by Toronto-based holding company Fairfax Financial in February this year. Prior to his role at Brit Insurance, Stratton was chief investment officer at Insurance Australia Group (IAG) for almost nine years.
Apollo’s mid-market speciality lending arm, MidCap Financial, announced last week the purchase of a $3.6 billion portfolio of corporate and real estate loans in the US and Europe from Mubadala GE Capital. The deal is expected to close in the fourth quarter of 2015.
Joshua Harris, co-founder and senior managing director of Apollo, signalled in May that the lender was planning to ramp up its MidCap business.
“Given the changing landscape in the financial services, we see significant opportunities to scale the MidCap platform,” he said.
New York-headquartered Apollo also recently closed a $1.237 billion structured credit fund to be managed by a team formerly part of Stone Tower Capital, which was acquired by Apollo in 2011.