Apollo Global To Raise $1.5B Fund

Apollo Global Management is planning to raise around $1.5 billion for a new fund, Bloomberg reports. The private equity firm will use the proceeds from the amount raised to invest in natural resources.

The money will also make long-term bets on metals, mining and energy prices. In August 2010, Apollo closed London-based Apollo Metals Trading Fund, which focused on metals and mining.

Click here for the story from Bloomberg.