(Bloomberg) -- Apollo Global Management Inc.'s flagship private equity fund surpassed $12 billion in fundraising last month, as the alternative asset manager taps institutional investors around the globe. Most Read from BloombergThe firm's 11th fund dedicated to private equity launched this year, and Bloomberg earlier reported that Apollo was targeting $25 billion for what could be its largest such fund. Private equity fundraising has been strained in recent years as elevated interest rates have slowed dealmaking and crimped distributions to fund investors. In its second-quarter results, Apollo said that its realized performance fees continued to be light "amid an evolving exit environment." On the call, executives acknowledged that private equity monetization was the most volatile part of its results but pointed to the investor response to its 11th private equity fund as a positive sign for the business.