Apollo Global Management has raised at least $360m towards the first Apollo Special Situations fund, according to filings with the US Securities and Exchange Commission.
This is almost half way to the fund’s target of $750m, after being on the road for around a year.
The fund has already partnered with sportswear brand Nike, which has been facing logistics issues such as delayed delivery to retailers, to develop an outsourced supply chain.
As part of this, Apollo Special Situations created a new company in August which acquired manufacturer New Holland and fabric printing and logistics operator ArtFX, both of which already supplied Nike.
The new company expects to create a full “ecosystem” which spans from materials suppliers to final embellishment, warehousing and logistics.
Terms of the transaction were undisclosed, but Nike did not invest capital in the company.