Private Equity Giant Apollo Is Raising Up To $5.5 Billion For Insurance-Linked Strategies

From Artemis:

Private equity and alternative investment specialist Apollo Global Management, LLC is reported to be out raising capital for a number of new investment funds, with as much as $5.5 billion said being raised for specific insurance-linked fund strategies.

Among the funds being raised for is one strategy that will enable private capital investors to participate in transactions alongside Athene Holding Ltd., the life and retirement reinsurance firm that is majority owned by Apollo, according to a report from Bloomberg.

Apollo’s assets under management reached a huge $280 billion at the end of 2018 and with the new funds it is planning to launch and raise capital for it could add as much as another $9 billion across a range of strategies, including insurance-linked funds, real estate, aviation and credit.

The Apollo/Athene Dedicated Investment Program, a Cayman Islands registered structure, is perhaps of most interest to our readership of insurance and reinsurance sector investors and investment professionals.

According to Bloomberg’s report, Apollo is targeting up to a $4 billion capital raise for this new strategy which will enable third-party investors to participate in private deals alongside the managers insurance and reinsurance company Athene....MORE