Apollo’s latest flagship private equity fund tops $12bn in commitments
Apollo Global Management has raised more than $12bn for its latest flagship private equity fund, providing further evidence that leading alternative asset managers continue to attract institutional capital despite a challenging fundraising environment, according to a report by Bloomberg.
The firm’s 11th flagship buyout vehicle launched earlier this year and is targeting a total of $25bn, which would make it the largest private equity fund in Apollo’s history if it reaches its objective.
Speaking following the firm’s second-quarter earnings, Apollo President Jim Zelter said the fundraising had been supported by both existing and new institutional investors across multiple regions.
According to Zelter, the level of investor demand reflects the firm’s deep relationships with global institutions, which continue to allocate capital to established managers with proven track records despite broader headwinds affecting the private equity industry.
The fundraising milestone comes as buyout firms continue to navigate one of the toughest capital-raising environments in recent years. Higher interest rates, slower deal activity and muted distributions have made investors more selective when committing to new private equity vehicles.
