Apollo Targets $5 Billion for High-Grade Income Fund
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Apollo Global Management Inc. aims to raise more than $5 billion for a fund that invests in deals the firm originates in its high-grade capital solutions business.
The Total Return Investment Grade fund launched in recent months and will invest alongside Apollo’s Athene insurance arm and be marketed to institutional investors, according to people familiar with the matter. The fund will be structured as evergreen, which offers investors a chance to cash out — with limits — at certain intervals. It will also invest in high-grade asset-backed finance.