管理公司正寻求在为负债累累的各国政府及国有企业提供融资方面发挥更大作用。如今，这些政府和企业越来越多地转向私人资本以填补预算缺口。
Global Management is scoping out a bigger role in financing debt-laden governments and state-backed companies as they increasingly turn to private capital to plug budget gaps.
阿波罗总裁吉姆·泽尔特周二在伦敦接受彭博电视采访时指出，尤其是在欧洲，各国政府正将私人资本视为解决日益严重的债务问题的“解决方案之一”。
Particularly in Europe, governments are embracing private capital as “part of the solution” to addressing theirmountingdebt, Apollo’s President Jim Zelter said in a Bloomberg Television interview in London on Tuesday.
以创新融资模式著称的阿波罗正在探索各类途径，帮助政府背景的企业改善资产负债表状况，包括引入长期资本。泽尔特表示，其中一种方式是将优质实物资产转移至子公司以筹集资金。多年来，这一手段助力阿波罗成功拓展了客户群，尤其是在欧洲地区。
Apollo, known for creative financing, is exploring ways that government-backed companies can shore up their balance sheets, including long-term capital. Zelter said one option is to move hard assets into a subsidiary to raise capital. It’s a tool that’s helped Apollo expand its roster of clients, especially in Europe, over the years.
阿波罗在欧洲的业务拓展成果显著：该公司投资了多家欧洲能源基础设施企业，包括英国沃旭能源公司的海上风电项目、德国莱茵集团的电网业务，还参与了英国欣克利角C核电站的建设融资项目。
Apollo’s expansion in Europe has included investments in European energy infrastructure firms, including a major Orsted AS offshore wind project in the UK, RWE AG’s German power grid business, and an agreement to help finance the construction of the Hinkley Point C nuclear power plant in the UK.
“欧洲目前面临诸多挑战：其银行体系、投资体系以及养老体系均尚未做好应对这些需求的准备，”泽尔特说道。
“The challenges in Europe — you have a banking system, an investor system, and a pension system that’s not really primed in position to handle those demands,” Zelter said.
为促成大型交易，阿波罗一直在招募人脉广泛的投资银行家及政策顾问。今年早些时候，该公司对欧洲与亚洲地区的管理团队进行了调整，并任命原渣打银行首席财务官迭戈·德乔治执掌欧洲业务。
Apollo has been hiring well-connected bankers and policy advisers to help bring in big deals. The firm reshuffled leadership teams in Europe and Asia earlier this year and put former Standard Chartered Plc Chief Financial Officer Diego De Giorgi in charge of Europe.
泽尔特还透露，阿波罗近期也频繁造访华盛顿及其他各国首都，致力于寻找国防领域的融资方案。他预计，未来私人资本将在美国和欧洲的国防采购及物资供应项目中发挥愈发重要的作用。
Zelter said Apollo has also been spending more time in Washington and other global capitals looking for ways to finance the defense sector. He expects private capital to play a bigger role in US and European acquisition and supply programs.
该公司还在寻求获取企业对AI基础设施所需的数万亿美元资金份额。Zelter表示，Apollo对其将承担的蓬勃AI建设热潮敞口设定了上限，并补充称，精明的信贷投资者将其投资组合在任何单一行业的敞口限制在中到高个位数百分比。
The firm is also seeking to capture the trillions of dollars that companies need for AI infrastructure. Zelter said Apollo has a limit on how exposed it will be to the booming AI buildout, adding that savvy credit investors limit their portfolio exposure in any one industry to mid- to high-single digits.
包括Apollo和黑石集团在内的另类资产管理公司已向AI及建设和为其供电所需的基础设施投入了数十亿美元。与此同时，投资者一直在向资金管理者探询，以了解AI相关投资渗透到各类基金的程度。
Alternative asset managers including Apollo and Blackstone Inc. have poured billions of dollars into AI and the infrastructure needed to build and power it. At the same time, investors have been probing money managers to understand the extent of how AI-related investments have made their way into a variety of funds.
“我们都在试图弄清楚，作为当今的投资者，那些意外后果是什么，或者那些二阶和三阶衍生效应是什么，”Zelter说道。
“We are all trying to figure out, as an investor today, what’s that unintended consequence, or what’s that second and third derivative,” Zelter said.