Deals
Apollo Seeks $20 Billion to Pounce on Credit Market Tumult
- Leon Black’s investment firm raising capital for various funds
- Oaktree, Blackstone among competitors also amassing fresh cash
This article is for subscribers only.
Apollo Global Management Inc., the alternative investment firm with the largest private credit unit, plans to raise $20 billion across several new funds as distressed opportunities soar.
The firm is seeking to gather the money over the next year for dislocations in credit markets as well as private debt, according to people with knowledge of the matter, who asked not to be identified because the information isn’t public. Apollo also is planning to expand its strategy of buying hybrid securities, as it did with the likes of Expedia Group Inc. in recent weeks.