Apollo Global Management Inc. is launching an equity fund that allows high net-worth individuals to invest alongside the firm as the alternative-asset manager expands beyond its traditional client base.
The $15 billion Apollo Aligned Alternatives fund is designed to replace public equity investments by offering exposure to lower-volatility private ones, targeting returns similar to assets held by its Athene insurance unit, filings show. Apollo’s insurance arm has returned about 12% on average over the past nine years on its alternative investments.
The fund is seeded with $10 billion of assets from Athene and $5 billion from institutional investors including Sumitomo Mitsui Trust Holdings Inc., and will be open to accredited individual investors.
Read more: BNN Bloomberg
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