Apollo Global Management has reportedly warned LPs interested in its latest flagship buyout fund they could see their commitments scaled back if they wait until October to invest.
The firm is looking to close Apollo Investment Fund VIII on $9.5bn early next month after less than a year on the road according to Bloomberg, which cited two people familiar with the matter.
AltAssets revealed last month that Apollo had pulled in a total of $8.4bn towards the fund just six weeks after holding a $6.6bn first close.
The surge in commitments pushed Apollo Investment Fund VIII well past the halfway mark for its $14.9bn predecessor, which was raised in 16 months amid the first ragings of the global financial crash.
Earlier reports suggested the firm was targeting $12bn for the vehicle and could go as high as $15bn.
LP committing to the fund so far include the $15bn San Francisco Employees’ Retirement System, which parted with $50m.
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