Apollo said to begin raising $9bn for seven new funds


Apollo Global Management is reportedly looking to gather about $9bn for seven new investment funds, in a testament to the demand of alternatives asset vehicles.

The firm is set to launch the funds this year, with investment strategies ranging from insurance to real estate, according to documents seen by Bloomberg.

The biggest of the funds is a $4bn-targeting insurance-focused vehicle, launched in partnership with its portfolio company, Athene Holding. Apollo is also targeting $1.5bn for its fourth financial credit fund set to invest in in senior-life settlements and insurance-linked securities.

Apollo is looking to pull in $1bn each for US Real Estate Fund III and its India-focused special credit fund, AION II.

The alternatives major has set its sights on $750m to $1bn for an Aircraft Finance fund and around $500m for a sub-investment grade revolving credit fund.

Apollo is also raising a its third credit drawdown fund, Accord Fund III, however it is unclear how much the vehicle is targeting.

This latest flurry of fundraising activity from a PE giant follow reports that fellow buyout house Blackstone is looking to raise $100bn over 2019.

Apollo has around $280bn of assets under management across its private equity, credit and real assets funds. In 2017 the firm raised $24.6bn to create what was at the time the largest ever private equity fund.

In February, the firm registered more than $1.2bn for its third natural resources fund, which is reportedly looking for more than $4bn.

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