Daily News: August 15, 2014

Apollo Taps High Net Worth Channel for Credit Fund

Reuters reported that Apollo Global Management raised approximately $1.5 billion for its Credit Opportunity Fund III. The fund, Reuters notes, is reportedly targeting $2.5 billion for investments primarily in U.S. and European credit.

Reuters noted Josh Harris, Apollo co-founder, said about $400 million of the aggregate raised was obtained during Q2/14. Reuters reported that the company has additional “near term” commitments that will bring the fund to its $2.5 billion goal.

To read the entire Reuters article, click here.