03:42 PM EST, 12/09/2024 (MT Newswires) -- Apollo Global Management ( APO ) is aiming to raise $25 billion for its upcoming private equity fund, set to launch early next year, Bloomberg reported Monday, citing people familiar with the situation.

If successful, this would make Apollo's 11th private equity fund the largest to date, surpassing its previous attempts, including a near-miss of the $25 billion target last year and a slightly smaller raise in 2017, the report said.

A representative for Apollo declined Bloomberg's comment request.

Apollo didn't immediately respond to a request for comment from MT Newswires.

Shares of Apollo were down more than 3% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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