Apollo Closes Buyout Fund Near $15 Billion Target
Dow Jones reports that, “The latest fund was at $12.5 billion in April with the majority of that amount collected in 2007. The vehicle raised $3 billion between the end of 2007 and April. That meant that Apollo was also somewhat sheltered from the market tumult following the Lehman Brothers Holdings’s bankruptcy in September, which took overall private equity fund-raising into a more severe slowdown. The majority of capital for the vehicle was raised before that event as Apollo had closed on $14 billion as of August.
Limited partners in the new fund include Teacher Retirement System of Texas, California Public Employees’ Retirement System, Canada Pension Plan Investment Board, Kuwait Investment Authority, Los Angeles City Employees’ Retirement System, Oregon State Treasury, Louisiana State Employees’ Retirement System, San Francisco Employees’ Retirement System, Portfolio Advisors LLC, Santa Barbara County Employees’ Retirement System, San Bernardino County Employees’ Retirement Association, New Mexico Educational Retirement Board and Los Angeles Fire and Police Pensions.”
read more: Dow Jones Private Equity Analyst
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