Apollo files $1.5 billion IPO

Apollo Management LP, the New York-based private equity firm, is raising a $1.5 billion publicly traded private equity vehicle similar to the one raised on May 3 by Kohlberg Kravis Roberts & Co. According to sources, Apollo is raising the money as a 144A private placement, and plans to list the securities on the Euronext Amsterdam exchange within the next two weeks, after which the fund will become publicly traded.