Apollo Global Management has raised $24.6 billion to date for its Apollo Investment Fund IX, per a SEC filing. It is not clear at this stage how much more capital the firm will raise, but the SEC filing allows for the firm to raise up to $24.7 billion.
The fund has now exceeded 2007’s $21.7 billion Blackstone Capital Partners V to become the largest in history. Click here to read PEI’s earlier analysis, including concerns over the fund size, the firm’s historic performance and its ability to invest at below-market prices.
As PEI noted before, the giant fund will be tilted more heavily towards distressed investing than its predecessor, the 18.4 billion Fund IX, and will specifically seek to take advantage of “a clear thematic investment opportunity” in distress in the European financial system.
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