- Apollo Global Management (APO +2.9%) seeks to raise at least $1B for its first social impact fund, Bloomberg reports, citing people familiar with the matter.
- It's part of a trend. Alternative asset managers are starting funds to focus on meeting environmental, social, and governance (ESG) targets in an effort to produce a steady stream of fees and diversify offerings.
- KKR (KKR +2.4%) recently exceeded its $1B goal for its first global impact fund, Bloomberg reports. Blackstone Group (BX +3%) and Carlyle Group (CG +3%) have recently hired executives to build impact strategies.
- Socially responsible ETFs: DSI, SUSA, CRBN, SPYX, ETHO, TOK, LOWC, ESG