In brief: Apollo has invested $498m of its impact fund

Apollo Global Management is making progress on its private equity impact fund, according to its second quarter results released last week.

As of the end of June 2022, the firm reported having raised $886 million for the Apollo Impact Mission fund. Investors in the fund include Japan’s Norinchukin Bank and the New York State Common Retirement Fund, according to PEI Media’s database.

Apollo has invested $498 million of the fund, the results state. Its debut deal was an investment in Reno De Medici, a Milan-listed producer of recycled cartonboard, in July 2021. It also acquired 1A Smart Start, one of the largest providers of vehicle ignition interlock devices, from private equity firm Abry Partners.