Friday, 31 October 2014
Last updated 5 hours ago
Nov 6 2013 | 11:54am ET
Apollo Global Management does not want to disappoint the huge number of investors begging to hand their money over to the private-equity firm.
The New York-based firm has asked committed investors for permission to increase the size of its eighth fund to $17.5 billion. If it gets the go-ahead, that would make Apollo Investment Fund VIII the largest new p.e. fund in five years, and nearly 20% larger than Apollo's last fund, which closed in 2008 with $14.7 billion.
Apollo had initially planned to cap the new fund at $15 billion. But faced with interest that could reach $20 billion, the firm elected to ask clients already committed to the fund if they wouldn't mind some extra company.
When Apollo announced the new fund last year, it initially targeted just $12 billion.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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