Apollo Closes Debut Secondaries Fund at $5.4 Billion
Funding | May 01, 2025 | Apollo
Apollo Global Management announced the final close of its debut equity secondaries fund, Apollo S3 Equity and Hybrid Solutions Fund I, receiving commitments totaling $5.4 billion, surpassing its target. This marks a significant milestone for Apollo's Sponsor and Secondary Solutions platform, which has now raised nearly $10 billion since its inception in August 2022. S3 provides an array of financing and liquidity solutions such as secondary investments and net asset value loans for private market participants. Apollos expansion into secondary markets has drawn strong support from a variety of global investors, underlining its growing influence and capability in private market secondaries.
Sectors
- Private Equity
- Alternative Asset Management
- Financial Services
Geography
- United States – Apollo Global Management is based in New York, making the U.S. a primary geography for this activity.
Industry
- Private Equity – This industry is relevant as Apollo S3 Equity and Hybrid Solutions Fund I is a private equity secondaries fund.
- Alternative Asset Management – Apollo is a global alternative asset manager, and the S3 platform is a vehicle for managing such assets.
- Financial Services – The financial services sector is involved due to the fund's investor base comprising pension funds, sovereign wealth funds, and other financial institutions.
Financials
- $5.4 Billion – Total commitments received for Apollo S3 Equity and Hybrid Solutions Fund I.
- $10 Billion – Total capital raised across the Apollo S3 platform since its launch in 2022.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Apollo Global Management | Private Equity Firm | Company | Apollo is a high-growth, global alternative asset manager launching its debut secondaries fund. |
| Apollo S3 Equity and Hybrid Solutions Fund I | Fund | Company | The fund is Apollo's debut equity secondaries fund launched under the S3 platform. |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Legal Advisor | Company | A law firm that represented Apollo in connection with the closing of its secondaries fund. |
| Steve Lessar, Veena Isaac, Konnin Tam | Co-Heads of Apollo S3 | People | Leaders at Apollo S3 who commented on the significance of the fundraise. |
| Scott Kleinman | Co-President of Apollo | People | Apollo’s Co-President who highlighted the platform’s role in addressing market needs. |