american private equity firm founded banker firm transactions purchases distressed involving corporate restructuring special situations industry apollo headquartered new_york_city offices purchase new_york los_angeles houston london frankfurt singapore hong_kong mumbai august apollo managed billion investor commitments private equity credit real estate funds investment vehicles making largest alternative investment management firms globally notable companies currently owned apollo claire norwegian cruise line american idol history apollo originally referred founded heels collapse february founded head acquisitions department alumni notable founders director international finance lawyer worked high yield division los_angeles head corporate finance department founding partners included worked black acquisitions department worked senior vice president high yield department responsibility new issue syndicate desk months collapse founders apollo begun series ventures private equity investment funds formed investments distressed companies apollo fund raised approximately million investor commitments strength black reputation prominent lieutenant key player boom 1980s set provide investment services seeking profit depressed prices high yield market 1990s time apollo founding financing new minimal apollo turned instead strategy distressed control apollo purchase distressed converted controlling interest equity company bankruptcy reorganization restructuring apollo distressed debt entry point enabling firm invest firms early apollo acquiring interests companies helped finance purchasing high yield bonds failed savings loans insurance companies apollo acquired large assets government apollo earliest successful deals involved acquisition bond portfolio vehicle apollo purchase executive life portfolio generating tremendous profits value high yield bonds recovered resulting variety state regulatory issues apollo purchase decade purchase california attorney general accused apollo investor group led french bank illegally acquiring assets bond portfolio according state california lion allegedly violated california law prohibited foreign government owned banks owning california insurance companies founded collaboration seek opportunities property markets family real estate opportunity funds closed april million investor commitments apollo exited partnership continued operate changing effective january firm owned controlled remaining include family real estate opportunity funds closed april million investor commitments firm investing funds vii acquired funds family investment vehicles offerings value added segment real estate investment spectrum apollo operates real estate lending program real estate fund called apollo raised private equity fund billion investor commitments investors included pension fund unlike funds later funds ultimately prove average performer private equity funds vintage investments invested alliance imaging acquired apollo apollo founding partner left firm found smaller competitor inception raised billion private equity funds focused investments middle market companies financial distress apollo founder founded successor business manage debt obligation vehicles apollo raised fourth private equity fund billion investor commitments investments fund invested rent center resolution performance products resolution specialty materials satellite radio apollo deployed fourth fund markets late 1990s experience difficulties collapse internet bubble onset recession amid turmoil collapsing markets apollo able raise fifth private equity fund billion investor commitments roughly raised previous fund investments fund invested general nutrition centers continued grow late 1990s significantly investments collapse high yield market technically founders completed spin formation firm maintained close relationship apollo years operated west_coast affiliate apollo raised corporate opportunities fund firm announced formally separating parent company timing separation coincided apollo legal difficulties state california purchase following spin apollo developed new continue investment activities capital markets new founded management credit opportunity investment vehicle following year april apollo raised million initial public offering listed business development company formed invest primarily middle market companies form debt senior secured loans making certain direct equity investments companies company public companies period marked boom period private equity new largest records set surpassed times month window beginning middle apollo active investors transactions period apollo involved number notable large firm largely avoided largest transactions period apollo notable investments period included leading gaming casino company norwegian cruise line operator retailer costume jewelry real estate owns century august apollo launched billion publicly traded private equity vehicle europe assets aaa new vehicle followed footsteps raised billion vehicle apollo initially attempted raise billion public vehicle fell short offered shares june raising billion apollo raised additional million private weeks following sale private equity industry expanded largest private equity firms notably announced plans realize value firms sale shares public equity markets chose slightly different path completing private placement shares management company july pursuing private placement public offering apollo able avoid public scrutiny applied november apollo able realize additional value sale ownership interest management company ultimately april apollo file sec permit holders privately traded stock sell shares march apollo completed initial public offering firm opened office india marking push asia deterioration financial markets worsened apollo saw investments come pressure apollo investment struggling retailer suffered significant debt burden consumer demand forced file bankruptcy protection high profile retail costing apollo million investment company time apollo investment claire entertainment came pressure apollo respond actively investment difficulties seeking exchange portion existing debt favorable claire apollo exercised option shut cash interest payments issue debt instead order provide company additional financial flexibility december apollo completed fundraising latest fund vii approximately billion investor commitments apollo targeting billion fundraising months bulk capital raised december announced apollo acquire shares company private underneath management group deal includes cash payment million assumed debt gives transaction value billion later announced april deal pulled poor response march second attempt acquire amusement park operator million offer november sold education division education deal totaling billion march bid business including million december apollo bought portfolio irish home loans half nominal value shares bought subsidiary portfolio loss year january reported apollo buy parent billion june successful offer billion cash month apollo won bidding auction glass bottle manufacturing unit rumoured fee billion june successful offer purchase operations apollo operated managing partners team investment professionals march firm headquarters located building west 57th street new_york_city firm operates additional offices purchase new_york los_angeles houston london frankfurt singapore hong_kong executive committee includes chairman chief executive officer senior managing director senior managing director hired president november apollo operates business lines integrated manner private equity private equity business cornerstone apollo investment activities apollo variety private equity strategies notably distressed debt investments business operates primarily firm family private equity investment funds investment funds credit apollo variety credit strategies complement core private equity business apollo variety investment vehicles including funds funds european non performing loan funds senior credit opportunity funds real estate apollo global real estate established build apollo history investing real estate related sectors hotels lodging leisure logistics manages number debt equity oriented real estate investment funds investment vehicles private equity funds apollo historically relied primarily private equity funds pools committed capital pension funds insurance companies fund funds high net worth individuals family offices sovereign wealth funds institutional investors apollo begun investing eighth private equity fund raised approximately billion investor commitments making largest private equity fund raised financial crisis inception apollo raised total private equity funds including publicly traded private equity closed end fund affiliate apollo formed invest primarily middle market companies form debt senior secured loans making certain direct equity investments companies company public companies structured business development company type publicly traded private equity vehicle designed generate interest income long term capital appreciation historically invested companies controlled apollo private equity funds alternative assets alternative assets aaa publicly traded private equity closed end limited partnership managed affiliate aaa formed invest alongside apollo main private equity funds funds aaa launched august shortly completed initial public offering billion vehicle apollo raised total billion aaa including vehicle billion subsequent private placement aaa investment portfolio mix private equity capital markets investments portfolio investments apollo active private equity investor boom following list apollo recent currently active private equity investments bulk investments held vii investments include affiliated businesses inception apollo built network affiliated businesses focusing private equity variety distressed investment strategies founded time apollo focused investment management consulting services foreign institutional accounts targeting investments public private high yield debt lion entered formal arrangement manage billion high yield portfolio consortium international investors provided capital lion investment activities lion business ultimately replaced management founded initially established manage billion market value debt obligation vehicle grow manage family loan obligation vehicles invest capital markets based including senior bank loans high yield debt founded partners apollo joined group global finance group raised structured market value structured cash flow completed apollo management technically founders completed formation firm maintained close relationship apollo years operated west_coast affiliate apollo shortly completed fundraising special situations investment fund million capital management debuted publicly traded business development company raised billion successor special situations fund corporate opportunities 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Apollo Global Management