Russell Investments announced it has completed a $1.225 billion strategic financing provided by funds and affiliates managed by Apollo that are associated with Apollo’s hybrid and credit strategies. The firm said the transaction is designed to provide long-term capital and greater balance sheet flexibility as it continues to execute its growth strategy.
According to Russell Investments, the financing refinances the company’s existing term loan, fully repays its prior lender group, and extends the maturity of its debt by seven years. The firm said the deal simplifies its capital structure, strengthens balance-sheet resilience, and creates additional runway to continue investing in its business, people, and client service.
Russell Investments emphasized that the refinancing does not alter the firm’s ownership structure or day-to-day operations. The company said client portfolios, investment processes, and service delivery will remain unchanged.
The announcement comes as Russell Investments cited what it described as strong business momentum, including record assets under management, sustained positive flows across key businesses, and continued financial discipline. Russell Investments said it had $370 billion in assets under management as of Sept. 30, 2025, serving clients across 30 countries, with headquarters in Seattle and offices in 17 cities worldwide.
Russell Investments said its ownership includes a majority stake held by funds managed by TA Associates, alongside a significant minority stake held by funds managed by Reverence Capital Partners, as well as ownership by employees and Hamilton Lane Advisors. Apollo had approximately $908 billion of assets under management as of Sept. 30, 2025.
KEY QUOTES:
“This strategic financing reflects confidence in Russell Investments’ industry-leading business performance and our continued growth trajectory. Partnering with Apollo enhances our flexibility to continue to invest in our business, our people, and our clients.”
Zach Buchwald, Chairman and CEO, Russell Investments
“Today’s announcement underscores Apollo’s ability to deliver flexible capital at scale through close collaboration across our Hybrid and Credit platforms. Russell Investments is a scaled global investment solutions provider with a strong franchise and clear strategic direction, and we are pleased to support the firm as it continues to execute its long-term objectives.”
Chris Lahoud, Partner and Deputy Co-Head of Hybrid, Apollo
