Apollo Management, Leon Black’s buyout firm, has reportedly begun marketing a hedge fund to invest in copper, gold and mining stocks. According to published reports, Apollo is initially aiming to raise $500 million, but the fund’s capacity could eventually be four times as much.
The fund is being managed by Mark Thompson, former chief investment officer at Galena Asset Management in London, press reports said. Thompson will focus on the listed securities of industrial and precious metals operators as well as natural resources firms.
A spokesman for Apollo declined to comment.
The launch is understood to be part of a larger