Apollo Returns 18% for Retail Clients With Higher-Stakes PE Bets

Apollo Global Management Inc. reaped returns of 18.3% last year for individual investors by largely betting on single companies that private equity firms want to hold longer or can’t sell — a strategy viewed by some investors as being relatively risky.

The private-asset vehicle for US retail investors, known as the Apollo S3 Private Markets Fund, offers an option for quarterly withdrawals. The majority of the vehicle backs continuation funds that allow money managers to extend the holding period of high-performing portfolio firms or those they can’t sell at their desired price.