In the Press
May 31, 2023

Apollo Aims New Secondaries-Focused Fund at Advisor Market (FundFire)


Apollo Global Management is planning to launch a new tender offer strategy for the financial advisor market that will invest primarily in private fund secondaries – a twist on the more common practice in the semi-liquid alts product market to use secondaries mostly as a stepping stone to build exposure in the private equity asset class. Focusing squarely on secondaries may be attractive because of the segment’s favorable positioning, regardless of whether private equity is in a boom or down cycle, said Robert Emerson, Private Equity and Private Investment Funds partner. In good times, secondaries volume grows as private funds add assets under management, and in bad periods, secondaries managers can step in to provide needed liquidity to market players, he said to FundFire. “Whether it’s a pretty steady market or volatile market, there’s deals to get done,” he said. “The number of deals getting done ebbs and flows, but it’s never at a standstill.”