Apollo Raises US$ 17.5 Billion Private Equity Fund with SWF Commitments


Apollo Global Management, LLC issued a press release today marking the close of private equity fund Apollo Investment Fund VIII, L.P., on December 31, 2013 with US$ 17.5 billion of commitments from third party investors. Apollo’s private equity segment had assets under management of around US $43 billion of as of September 30, 2013.

Fund VIII is maintaining Apollo’s strategy by engaging in contrarian, value-oriented private equity investments by utilizing three types of investments: corporate carve-outs, distressed investments and opportunistic buyouts. Target opportunities in equity investments will be around US$ 300 million to US$ 1.5 billion and is planning to have a portfolio consisting of approximately 20 to 25 companies.

Institutional investors like the California Public Employee’s Retirement System (CalPERS) committed US$ 500 million to the fund, while the Pennsylvania Public School Employees’ Retirement System committed US$ 200 million.

Flagship Fund Performance As Of 3/31/2013[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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