Bloomberg: Apollo Initiates $2 Billion Fundraising Drive for Credit Secondaries Fund II

Apollo Global Management Inc. is gearing up to raise funds for its upcoming secondary credit investment vehicle, eyeing a target of $2 billion. According to undisclosed sources, the formal marketing phase is set to commence by the quarter's end. Since the launch of its credit secondaries platform in April 2021, the firm has already amassed $1 billion in assets under management. This innovative fund strategically merges two thriving alternative investment sectors—private credit and secondaries—by acquiring discounted stakes in debt funds from early-selling investors. Apollo's move reflects a strategic initiative to capitalize on the current market trends and further solidify its presence in the dynamic landscape of private equity.