Apollo Global Management has lowered the target for its new flagship buyout fund, with the firm now expecting to secure capital commitments in the “low $20 billion range” rather than the original figure of $25 billion, according to a report by Bloomberg.
Apollo Global Management has lowered the target for its new flagship buyout fund, with the firm now expecting to secure capital commitments in the “low $20 billion range” rather than the original figure of $25 billion, according to a report by Bloomberg.
Speaking in an earnings call on Tuesday after the firm reported a steeper-than expected fall in Q1 profit, Apollo co-president Scott Kleinman revealed that the fund pulled in $16 billion by the end of March, with a final close expected in the summer.
Kleinman also said that to date, the fund, Apollo’s 10th, has invested about $6 billion of capital, with the private equity team signing four deals since the last earnings call, including chemical company Univar Solutions and aluminium products manufacturer Arconic Corp.
