NEWYORK, Sept. 9, 2015 – OppenheimerFunds, a leader in global asset management, today announced a strategic partnership in which Apollo Credit Management, which is an affiliate of Apollo Global Management, LLC (NYSE: APO), will serve as sub-sub-advisor to the Oppenheimer Global Strategic Income Fund (GSIF).

“As a progressive money manager, OppenheimerFunds consistently strives to add value for our clients. Apollo Credit Management offers a wide range of alternative investment credit strategies that complement our strong inhouse fixed income capabilities, which will help us continue to deliver a very compelling offering,” said Art Steinmetz, Chairman, CEO and President of OppenheimerFunds. “Continuing the fund’s history of innovation, we wanted a quality partner in terms of performance, investment team and most importantly, one that shares our cultural viewpoint on serving investors first. We are launching our relationship via our marquee fixed income product, and will explore other potential initiatives over time.”

“We are delighted to partner with OppenheimerFunds on this innovative approach to provide their investors with access to Apollo’s flagship liquid alternative credit solution. These credit exposures, which have historically only been available to Apollo’s institutional investors, offer significant yield advantages and diversification to the individual investor,” said Marc Rowan, co-founder and Senior Managing Director of Apollo. “Similar to Apollo, OppenheimerFunds is focused on delivering investment excellence to its clients, and we look forward to a long and prosperous partnership with such a high-caliber institution.”

Global Strategic Income Fund is dedicated to providing current income from diversified sources of fixed income investments while maintaining low overall volatility relative to the multi-sector fixed income category. GSIF utilizes the complete set of OppenheimerFunds’ taxable fixed income capabilities, and the new partnership will help the Fund access non-traditional fixed income market opportunities – including structured credit, middle-market loans, direct real estate investments and insurance-linked securities – to improve yield and overall risk-adjusted performance, diversify the fund to minimize volatility, and advance the firm’s history of innovation.

“Our partnership with Apollo Credit Management is very exciting as it gives us access to different areas of the credit markets that can provide low-correlated, diversified sources of high income for our Fund shareholders,” said Michael Mata, Portfolio Manager of GSIF at OppenheimerFunds. “Our shareholders will receive the benefits of our scale and service without paying extra to reach these non-traditional asset classes.”