Fundraising

The fund reached its hard cap four months after launch.

Despite the tough fundraising landscape, Apollo aims to surpass the $130bn it gathered over 2022 this year.

Fund VII does not have a target, sources tell Buyouts. It will continue raising capital, they say, with Silver Lake expected to announce a final closing before the end of the year.

Buyouts has identified 10 intriguing first timers that are today braving a brutal fundraising market. Reflecting an array of backgrounds and strategies, we plan to keep close tabs on them in the months ahead.

“While we believe that we will attract a significant amount of capital for our next vintage of buyout funds, we no longer expect these funds in the aggregate to be the same size as their predecessors,” CFO Curt Buser said.

The buyout giant’s new chief executive plans to instil more discipline around operations, noting 'we are not going to rush', according to the firm's Q1 earnings call.

Folium Fund II will invest in climate-focused agriculture and forestry assets.

Investindustrial Growth III will invest in European lower mid-market companies.

The number of vehicles to wrap up fundraising during the first quarter suggests total funds to close this year could fall by half, according to PEI data.

A key feature of the Pathfinder strategy is its social impact pledge. Inclusive of Fund II’s first close, the platform will have more than $10.5bn of capital 'designated with this charitable tie-in,' CEO Michael Arougheti says.