Apollo Is Moving Fast On European Debt

Apollo Global Management LLC (NYSE:APO)  is continuing its crusade into the world of distressed European assets as the company seeks to make a return from the continent's struggling financial system with its Apollo European Principle Finance Fund II.

The fund is set to concentrate on non-performing loans held in Europe, something the hedge fund believes are to be in ready supply in the coming years. Apollo estimates the existence of around $1 trillion worth of these assets currently available.

The fund is a successor to the Apollo European Principle Finance Fund I. That fund had realized $560 million by 30 June 2011....