Deals
Apollo Seeks Up to $3 Billion for Its Second Infrastructure Fund
- New fund’s annual-return target is 13% to 16% before fees
- Infrastructure funds have proliferated in recent years
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Apollo Global Management Inc. is seeking as much as $3 billion for its second infrastructure fund, according to people with knowledge of the matter.
The firm has been talking with prospective investors about raising $2 billion to $3 billion for Apollo Infrastructure Opportunities Fund II LP, said the people, who asked not to be identified because the talks are private. The fundraising target is fluid and may change based on investor demand, one of the people said.