Tuesday, 30 August 2016
Last updated 6 hours ago
Aug 1 2014 | 1:55pm ET
Apollo Global Management is seeking investors for a new junk-bond hedge fund it launched last year.
The private-equity giant’s Apollo Credit Short Opportunities Fund began trading with internal capital in November, The Wall Street Journal reports. The firm began fundraising for the vehicle this month, with plans to formally launch the fund for outside investors in the fall.
It is not clear how much Apollo seeded the fund, which is managed by U.S. opportunistic credit head John Zito, with, or how much it is seeking from investors.
The fund bets against junk-rated U.S. bonds.