Apollo Global Management has plans to launch an equity fund that allows high-net-worth individuals to invest alongside the firm as the alternative-asset manager expands beyond its traditional client base, reported Bloomberg.
The $15 billion Apollo Aligned Alternatives fund is designed to replace public-equity investments by offering exposure to lower-volatility private ones.
The fund is seeded with $10 billion of assets from Athene, the firm’s insurance unit, and $5 billion from institutional investors, including Sumitomo Mitsui Trust Holdings, and will be open to accredited individual investors.