NETHERLANDS - Apollo Management to list publicly traded fund

Apollo has so far declined to comment, but sources suggest it is aiming to list the fund, which will be registered in Guernsey, on Euronext within the next two weeks. It is understood that the firm intends to invest half of the new fund in traditional private equity, and the other half on a mix between strategic value investments and a European mezzanine vehicle. Goldman Sachs, JP Morgan Chase, Citigroup and Credit Suisse Group are said to be underwriting the offering, though all have so far declined to comment.

New-York based Apollo has several investment groups, including classic buyout and distressed funds, and recently raised a $ 10bn fund. It is understood that in the firm's 15-year history, its gross returns on investments were 40%.

The reports also suggest that Blackstone Group and Texas Pacific Group have approached investment banks to explore a public offering.

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