Fund Managers

Apollo pays $52.7m in settlement with SEC

The settlement, which centres on improper fees and conflicts of interest disclosure to limited partners and supervisory failure, includes a $12.5m penalty. It comes less than a year after Blackstone settled with the SEC for similar issues.

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Apollo Global Management has agreed to a $52.7 million settlement with the Securities and Exchange Commission, the SEC announced in a Tuesday statement.

The regulator charged the firm for allegedly misleading limited partners in four funds about fees and a loan agreement, and for failing to supervise a senior partner who charged personal expenses to several funds.

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