Global buyout firm Apollo Global Management is building out a new team to target family offices as its looks to widen its fundraising efforts to include ultra-wealthy investors as well as institutions, according to a report by Bloomberg.
The report cites Apollo partner Brian Feurtada as confirming that the the New York-based firm has so far assembled a roughly 10-strong family office with headcount expected to increase in the future.
The initiative comes as private equity firms are increasingly looking to source capital from outside of their traditional institutional-investor base of pension funds and endowments. Blackstone and KKR & Co are also reportedly establishing units to focus on ultra wealthy private investors.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Source: Private Equity Wire
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...