Apollo Plans Four Commodities Funds, Leads With $500M Metals Vehicle

Jan 22 2009 | 12:35am ET

Apollo Management is planning a suite of commodity-based alternative investment products, led by a hedge fund investing in battered cooper, gold and mining stocks.

The New York firm plans to raise $500 million for the fund, which has a capacity of about $2 billion, Bloomberg News reports. The fund will focus on precious metals and natural-resources stocks listed in London, Sydney and Toronto. Metals took a beating last year, with the London Metal Exchange Index falling by almost half.

Mark Thompson, the former chief investment officer at commodities hedge fund shop Galena Asset Management, is to manage the new offering. The firm hired Morgan Stanley veteran Neal Shear last year to start its commodities business.

The metals hedge fund is the first of four offerings planned by Apollo. The firm plans hedge funds focused on agriculture and energy, as well as a commodity private-equity offering that will invest between $50 million and $350 million per deal.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...