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Apollo Global Management LLC is preparing to raise about $9 billion, and about $5.5 billion of that money could go toward investments related to life insurance and annuities.
Apollo gave some information about the effort in a document filed with the U.S. Securities and Exchange Commission.
Hema Parmer, a reporter at Bloomberg, has reported additional details in an article based on a review of documents related to efforts to start a number of new investment funds.
Apollo has been managing about $280 billion in assets.
The company controls Athene Holding Ltd. Athene, in turn, controls the old Aviva USA.
Apollo plans to raise $4 billion through an effort that would let investors join in deals alongside Athene, according to Parmer.
The company is also raising $1.5 billion that would be invested in life settlements ad insurance-linked securities.
