Apollo Global Management said it has provided $584 million in financing to Hong Kong flexible office space provider The Executive Centre (TEC) through its managed funds, affiliates, and other long-term investors.
In a statement, Apollo said the financing comes as TEC, which operates more than 260 centres across 38 cities in 15 markets in Asia Pacific and the Middle East, seeks to refinance existing debt and expand across Asia.
The proceeds will be used primarily to refinance The Executive Centre’s existing debt and support its expansion as demand for flexible office space in the region remains sustained.
“We are excited to deliver a tailored solution to The Executive Centre that supports their business needs and long-term strategic objectives,” said Celia Yan, partner and co-head of APAC Credit & Hybrid at Apollo.
Yan added that the transaction involved collaboration across Apollo’s platform to develop a financing solution suited to TEC’s requirements.
TEC, which was acquired by KKR & Co and a Tiga Investments Pte-led consortium in 2021, said the financing would address both its refinancing needs and expansion plans.
“TEC has spent three decades building a trusted platform for multinational clients who need the flexibility to scale across Asia,” a company spokesperson said.
Apollo said the transaction builds on its track record of providing hybrid capital solutions in Asia. Its previous transactions include investments involving JSW Cement, Global Schools Group, Hero FinCorp, HMI/PanAsia Health, Molycop and Charles Monat Associates.
Apollo, which is known for its global alternative credit product, managed approximately $1.05 trillion in assets as of June 30, 2026.
In June, funds managed by Apollo completed the sale of their stake in Altemira Holdings, a pan-Asian aluminium packaging company, to private equity firm MBK Partners.
DealStreetAsia also reported in March that funds managed by Apollo agreed to acquire Nippon Sheet Glass, a Japanese manufacturing firm specialising in architectural, automotive and solar glass, in a deal totalling nearly $3.7 billion.
