Almost all funds the corporate pension invests in have the ability to use a subscription line of credit, according to UPS portfolio manager Brady Hyde.
Apollo’s stock, which falls under the growth and expansion strategy in the pension plan’s private equity portfolio, grew nearly 75% in the year ended 30 June.
The latest record fundraising figures across alternative asset classes show CIOs continue to see private investments, and not just private equity, as the most compelling in the long term.
The fund, which targets longer-dated private market opportunities that don’t fit in its flagship fund, is nearing the halfway mark toward its $750m target.