Apollo Raises $5.4 Billion for Early Exit Vehicle, Closes $8.5 Billion Accord+ Fund Amid Private Equity Fundraising Surge

Several major private equity and hedge fund firms have recently raised substantial capital amid a challenging dealmaking environment. Apollo Global Management secured about $5.4 billion for a vehicle that allows investors to exit private funds early, addressing liquidity constraints. Additionally, Apollo closed on $8.5 billion for its Accord+ strategy, which includes $4.8 billion for its second vintage fund. Ares Management Corp. raised over $3 billion for a fund designed to enable wealthy individuals to purchase discounted stakes in private equity funds with quarterly redemption options. Ara Partners, a private equity firm focused on businesses that reduce carbon emissions, raised $800 million for its debut infrastructure strategy. Hedge fund D.E. Shaw garnered $1.3 billion in commitments for its latest private credit fund. The fundraising activity coincides with a broader trend of large investors, including pensions and endowments, borrowing against private equity holdings through net asset value loans to manage cash flow amid a sluggish deal market. Meanwhile, activist investors are positioning for potential takeovers, such as the play for Upper Crust's owner.