Apollo Global Management targets $5bn

The New York asset manager has launched its latest distressed debt vehicle.

Fund name: Apollo Accord Fund IV
Target size: $5 billion
Launch date: August 2020

Apollo Global Management has launched Apollo Accord Fund IV with a target of $5 billion, according to a Form D filed by the firm. Capital raised by the vehicle will be used to acquire distressed debt throughout North America.

In May 2020, the firm held a final closing of Apollo Accord Fund III B at $1.75 billion. Fund III B received a $250 million commitment from Investment Management Corporation of Ontario.