Apollo to Increase LPs’ Share of Fees in New Fund

Apollo Global Management LLC will give investors a greater share of deal fees in its next flagship fund than it offered in the past, according to two people familiar with the situation and fund documents viewed by Bloomberg News.

Apollo Investment Fund VIII LP, which is seeking $12 billion, will direct 80 percent of fees it charges portfolio companies to investors, according to a marketing document. The prior fund, which raised almost $15 billion in 2008, offered a 68 percent cut, according to the people familiar and a limited partnership agreement for Fund VII.

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