Apollo, the firm run by Leon Black, has discussed with investors about getting permission to increase the $15 billion limit on Apollo Investment Fund VIII LP, the people told the agency, after some expressed interest in investing as much as $20 billion.
Apollo had set a target of $12 billion for the fund and the firm may leave the maximum size of the fund unchanged, the report said.
The target amount differs from the limit, known as a hard cap, which is the maximum amount a fund can raise if demand exceeds the target.
Apollo has not completed raising the fund. The investors who have already committed money need to approve a change to the size of the pool. (http://link.reuters.com/tek63v)
Charles Zehren, a spokesman for Apollo at Rubenstein Associates, declined to comment on the Bloomberg report.