Connecticut's state Treasurer Denise Nappier is looking to make an investment in Apollo Global Management's eight fund. 

In a report, PeHub said that Nappier is considering to commit USD125 million to Apollo VIII. He presented the investment opportunity at a meeting of the state Treasury's Investment Advisory Council held earlier this week. 

Nappier is the principal fiduciary of the Connecticut Retirement Plans and Trust Funds, PeHub said. She has the final say on investment decisions, following feedback from the advisory council and due diligence from the investment staff and consultant Franklin Park. 

Nappier, however, has not made a final decision on the matter, PeHub reported. 

Meanwhile, Apollo's Fund VIII had been targeting USD12 billion. Based on its earnings statement for the third quarter, Fund VIII has already surpassed that amount. The fund's hard cap stands at USD15 billion, the report said. 

Apollo's previous flagship fund, the Apollo VII, raised USD15 billion in 2008. As of this June, it generated a 37% gross internal rate of return and a 28% net IRR on USD11.1 billion of net committed capital, PeHub said.