Apollo Global Management has raised $3.2 billion for its Apollo Natural Resources Partners II, according to a SEC filing. The New York-headquartered firm began fundraising in 2014 with a $3 billion target.
Its previous fund raised $1.3 billion in 2012.
Investors that committed to Apollo Natural Resources Partners II include the Teachers' Retirement System of Louisiana, San Francisco Employees' Retirement System and the New York State Common Retirement Fund.
The fund will target buyout opportunities in natural resources and energy sectors globally.