Apollo Global Management is planning to set up an impact investing arm, according to people with knowledge of the matter, following some of its biggest peers (KKR & Co and TPG Capital) in targeting funds dedicated to sustainability.
The New York-based firm, who currently has $312 billion in assets under management, is seeking at least $1 billion for its debut social impact fund, according to sources, who requested anonymity because the matter is private. Apollo declined to comment.
For more background please check the MSN article.