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Apollo collects $23.5bn for largest-ever buyout fund

Leon Black's private equity firm is also raising $3.5bn for a distressed debt fund

Apollo collects $23.5bn for largest-ever buyout fund

Apollo Global Management, the buyout firm founded by billionaire investor Leon Black, is close to setting a new global fundraising record as investors continue to pour money into private equity.

Two people familiar with the matter told FN's sister publication Private Equity News that Apollo had hit its $23.5bn target and was set to hold a final close "imminently".

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