Fundraising being closely watched on Wall Street as a marker for chief Marc Rowan’s tenure
Apollo Global has raised $13bn for its first flagship buyout fund since co-founder Leon Black left the private equity group last year over his long association with convicted sex offender Jeffrey Epstein.
The group said that by July the fund had attracted more than half of the $25bn in capital it was hoping to raise by year end.
In the second quarter, Apollo attracted $36bn in new assets, a figure that did not include the $13bn committed to the buyout fund in July, after the quarter had ended. Those inflows pushed overall assets under management at Apollo to a record $515bn, pushing overall fee-related earnings up 7 per cent to $341mn.
Read more: FT
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