The Apollo Group, which is a provider of full-service hospitality management services to the cruise industry, has announced a growth investment from funds managed by Oaktree Capital Management.

This investment will enable Apollo to continue to provide best in class service to its existing customer base while expanding its capabilities in food and beverage distribution.

“As we explored potential investment partners, Oaktree stood out because of its hands on approach and storied history of successful investing in F&B and hospitality management companies,” said Jose Ramon Barrera, CEO of Apollo. “Oaktree’s significant capital resources and experience in hospitality management will be critical to achieving Apollo’s strategic growth plan.”

Key customers for Apollo include Oceania and Regent, Virgin, Marella and Cordelia.

“Apollo Group and its management team have achieved impressive results and established themselves as the go to supplier for hospitality services in the cruise industry. With our investment and partnership, we believe Apollo will be able to significantly expand its footprint and service offering to enhance the value it is already bringing to its blue-chip customer base,” added Jared Frandle, Managing Director for Oaktree’s Special Situations Strategy.

“We are very excited to partner with Jose and his team and see significant opportunity for Oaktree to work hand in hand with the Management team to expand Apollo’s capabilities,” said Matt Wilson and Jordon Kruse, Co-Portfolio Managers of Oaktree’s Special Situations Strategy. “The cruise industry has significant tailwinds, and we believe Apollo is well positioned to capitalize given the critical nature of their service offering and leading market position.”