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.
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Source: Private Equity Wire
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