Apollo Provides $585 Million in Financing to Office Operator The Executive Centre

Apollo Global Management has provided $585 million in financing to The Executive Centre (TEC), a Hong Kong-based operator of flexible office spaces. The deal provides TEC with significant capital to refinance existing debt and support its expansion plans, according to a statement from the U.S. asset manager on Tuesday.

Deal Details

The proceeds from the financing package are designated for two primary purposes:

• Refinancing the company's existing debt obligations.
• Funding capital expenditures for future growth and expansion.

The final amount of the deal exceeds figures from earlier reports. Last month, Bloomberg reported that TEC was seeking a loan of approximately $500 million, indicating the final package secured from Apollo is substantially larger.

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Strategic Context

This capital injection provides TEC with a strengthened balance sheet as it navigates the competitive flexible workspace market. The company is a significant operator in the premium office segment, with a large footprint across key business hubs.

Headquartered in Hong Kong, TEC's portfolio includes more than 260 centers across 38 cities throughout the Asia-Pacific region and the Middle East. For Apollo, the transaction represents a major private credit deal, underscoring the growing role of alternative asset managers in providing large-scale corporate financing.