Apollo Global Management Inc. is raising over $5 billion for a new Total Return Investment Grade fund, aimed at investing in high-grade capital solutions. This evergreen fund, marketed to institutional investors, will work alongside Apollo’s Athene insurance arm and invest in high-grade asset-backed finance. Apollo projects the fund could yield approximately 200 basis points more than average investment-grade corporate bonds. The strategy aligns with Apollo’s multi-credit approach, targeting the $75 trillion capital expenditure needs of high-grade corporations over the next decade. Apollo has underwritten $18 billion in investment-grade deals recently for major companies.