Apollo to manage 150 mln stg credit portfolio for London pensions fund

LONDON, May 19 (Reuters) - The London Pensions Fund Authority (LPFA) said on Tuesday it had appointed asset management group Apollo Global to manage its credit investments.

Apollo will oversee the LPFA's 150 million pounds ($234.4 million) allocation to credit markets, including distressed debt, real estate debt, leveraged senior loans and private lending, the pension fund said in a statement.

"The mandate will be unconstrained and target absolute returns by investing across a number of higher yielding debt markets," LPFA, which administers 4.8 billion pounds in pension assets, said.

"It is expected that the majority of investments will be made within developed markets; however, there is also scope for allocations to emerging markets."

Apollo managed about $163 billion at the end of March. ($1 = 0.6400 pounds) (Reporting by Nishant Kumar; editing by Simon Jessop)