During the third quarter, Apollo raised approximately $3.3 billion for its newest private equity fund, Apollo Investment Fund VIII, LP, bringing total committed capital for the fund to $10 billion through September 30, 2013. As of today, Apollo has received total fund commitments of approximately $12 billion for Fund VIII. The hard cap for Fund VIII is $15 billion.
According to reports, Apollo is seeking to raise the Fund VIII hard cap to $17.5 billion in order to meet the demand from institutional investors. The last fund raised by Apollo was in December 2008 when it raised $14.7 billion for Apollo Investment Fund VII.
Apollo is a global alternative investment manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo has assets under management of approximately $114 billion in private equity, credit and real estate funds invested across a core group of nine industries (www.agm.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-8-13