Apollo raises $1.9bn

Apollo Global Management has raised $1.9 billion to date for its Financial Credit Investment III, per a SEC filing. The New York-headquartered firm has set an undisclosed target and began fundraising in 2016. The SEC filing did not disclose whether the capital raise constituted a final or interim close.

Investors that committed to Financial Credit Investment III include the New Zealand Superannuation Fund.

The fund will target distressed debt opportunities in financial services sectors globally.