Daily News: January 26, 2015

Apollo to Raise Fund to Buy Energy Sector Debt

The New York Times reported Apollo Global Management is raising a new fund to buy the debt of troubled energy companies, as it seeks to capitalize on the recent collapse in oil prices.

According the Times , the new vehicle, known as Energy Credit Opportunity Fund, is aiming to raise the capital on an unusually compressed timeline, according to a confidential email obtained by DealBook.

Apollo is hoping to hold an initial closing for the fund in early March and then finish raising the capital by early April, the Times said further.

To read the entire Times article, click here.