Apollo Nears $2.5 Billion Close for Europe Distressed-Debt Fund

Apollo Nears $2.5 Billion Close for Europe Distressed-Debt Fund

Andrew Harrer/Bloomberg

Apollo Global Management LLC, the private-equity firm run by Leon Black, expects to raise about 2 billion euros ($2.5 billion) by next week for a new fund which will focus on purchasing European nonperforming loans in the residential, commercial, consumer and corporate areas.