Friday, 27 November 2015
Last updated 1 day ago
Jan 26 2009 | 2:08am ET
In stark contrast to many of its peers, Apollo Management is having no problem raising money.
Leon Black, the founder of the New York alternative investments giant, said Friday that the firm raised $14.8 billion for its latest private equity fund. That sum was just shy of its $15 billion target, but is still impressive amidst the economic climate and poor performance for many of Apollo’s vehicles.
Apollo Investment Fund VII took about 16 months to raise and closed in December, Black said at a p.e. conference held by the University of Pennsylvania’s Wharton School. The has already invested between 20% and 25% of the money raised.
“For the next two years, there will be huge opportunities in distressed for those that have capital,” Black said on the sidelines of the conference, according to Reuters.
News of Apollo’s p.e. fundraising coup comes in the wake of its plans to raise a series of commodity-focused funds, beginning with a $500 million metals and mining hedge fund.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…