Private-equity firm run by Leon Black, Apollo Global Management LLC (APO), announced that they have completed the first stage for their capital rising. They buyout fund that APO raised is estimated to be at US$6.8 billion.

Apollo Investment Fund VIII, the new investment pool established by APO set a starting goal of US$12 billion as starting and established $15 billion as its maximum target.

Due to industry consolidation and limited investors, fewer buyout firms are out to raise larger share of capital. This is to cut costs and set to allocate money to be handled by a smaller group of investment firms and managers.

Apolllo is one of the few investments that came across the opportunity to gather larger funds since the 2007-2009 worldwide financial crisis.

Seperately, Carlyle Group LP (CG) which is the second largest private equity firm  is expecting to exceed their set US buyout fund target which is set at S41 billion as it finishes its fundraising in the coming months.