(Bloomberg) -- Apollo Global Management will help OppenheimerFunds push into structured credit, middle-market loans and direct real estate as the private-equity firm expands its strategies to retail investors.

Apollo Credit Management will serve as a “sub-sub-adviser” to the Oppenheimer Global Strategic Income Fund, which had about $6.1 billion as of June 30, the companies said Friday in a statement. Apollo can also invest in insurance-linked securities, or ILS.

Private-equity firms, which cater to clients such as pension funds and the ultra-rich, have been seeking to reach a broader base of clients. Columbia Management joined last year with Blackstone Group to increase retail investors’ access to hedge fund strategies. Apollo announced in July that it was teaming up with Ivy Investment Management to offer two new mutual funds.

The relationship with OppenheimerFunds will “provide their investors with access to Apollo’s flagship liquid-alternative credit solution,” Marc Rowan, co-founder of Apollo, said in the statement. “These credit exposures, which have historically only been available to Apollo’s institutional investors, offer significant yield advantages and diversification to the individual investor,”

OppenheimerFunds, which is owned by Massachusetts Mutual Life, has been seeking new strategies to win clients and boost fee income. The company announced a deal last week to buy VTL Associates to add exchange-traded funds that weigh metrics beyond market capitalization when buying stocks. The Apollo partnership was designed partly to limit volatility.

Apollo co-founder Joshua Harris said in a February conference call that his company planned to join with OppenheimerFunds as part of retail push. Friday’s statement outlined strategies such as ILS, which are often tied to the weather or other natural disasters, meaning the risks are uncorrelated with most fixed-income markets.

“Our shareholders will receive the benefits of our scale and service without paying extra to reach these non-traditional asset classes,” Michael Mata, portfolio manager of GSIF, said in the statement.

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