NEW YORK – Singapore sovereign wealth fund GIC is in talks to invest in Atlas SP Partners, the securitisation business that Apollo Global Management bought from Credit Suisse Group, according to a person with knowledge of the matter.

The terms of the agreement, including the size of GIC’s planned investment in the platform, could not be learnt. Representatives of Apollo and Atlas SP declined to comment, and a GIC representative did not immediately respond to a request for comment.

Any capital injection from GIC would follow an effort by Apollo to raise capital that enables Atlas SP’s balance sheet to grow to over US$50 billion (S$67 billion) from about US$40 billion in February.

The platform bundles debt such as car loans and mortgages into bonds that it sells, and needs funding to help temporarily finance assets that get packaged into securities, Bloomberg News has reported.

Apollo said in June that the Abu Dhabi Investment Authority provided a cornerstone capital commitment to Atlas SP and that it had “substantial additional capital raising under way”.

Atlas SP, led by chief executive Jay Kim, has been active in recent months. In October, the firm was part of an investor group that agreed to provide a US$1.1 billion delayed-draw mortgage facility to open-air shopping centre landlord Site Centres Corp.

Atlas SP also led a US$200 million warehouse facility for Above Lending, which specialises in consumer instalment loans, and separately led a securitisation for equipment-financing company Equify Financial. BLOOMBERG