Russell Investments announced a $1.225 billion strategic financing that was completed on January 6 2026. The deal replaces an existing term loan, fully repays prior lenders, and extends the debt maturity by seven years, giving the firm a longer‑term capital base and greater balance‑sheet flexibility to pursue growth initiatives.
The financing is structured as a partnership with Apollo Global Management’s hybrid and credit‑strategy funds and affiliates. Apollo’s participation signals confidence in Russell’s business model and its ability to generate sustainable returns, while expanding Apollo’s footprint in the institutional investment space. The transaction does not alter Russell’s ownership structure; the firm remains majority‑owned by TA Associates, with a minority stake held by Reverence Capital Partners, employees, and Hamilton Lane Advisors.
Russell’s assets under management reached $370 billion as of September 30 2025, underscoring the scale of the firm’s operations. The new capital will support a range of growth initiatives, including potential acquisitions and the expansion of investment platforms, as described by CEO Zach Buchwald, who said the financing “enhances our flexibility to continue to invest in our business, our people, and our clients.”
Apollo’s partner Chris Lahoud noted that the deal “underscores Apollo’s ability to deliver flexible capital at scale through close collaboration across our Hybrid and Credit platforms.” The partnership strengthens Apollo’s relationship with a leading global asset manager and aligns with its strategy of backing high‑quality, long‑term growth initiatives.
The transaction reflects a strategic move for both parties: Russell gains a lower‑cost, longer‑term debt structure that reduces refinancing risk, while Apollo deepens its engagement with a top‑tier investment solutions provider, positioning both firms for future collaborative opportunities.
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