Apogem Capital has completed fundraising for its latest private equity vehicle, securing $597 million from a mix of returning investors and new institutional backers.
The New York-based private markets investor said Apogem Private Equity Fund XI (APEF XI) received commitments from existing limited partners alongside a diverse group of global institutional investors.
Pension Funds and Family Offices Join Investor Base
The fund attracted capital from public and private pension plans, family offices and registered investment advisers (RIAs), broadening the investor base supporting Apogem’s private equity strategy.
Apogem employees and its parent company, New York Life Insurance Company, also made significant commitments to the new fund, according to the firm.
Fund Continues Lower Middle-Market Strategy
APEF XI will maintain Apogem’s established focus on the lower middle market, seeking diversified exposure through a combination of emerging fund managers, independent sponsors and direct investments across North America.
The strategy is designed to spread investments across multiple channels rather than relying on a single approach to private equity deployment.
Louise Smith and Richard Wiltshire Lead Fund Strategy
The fund is being led by Louise Smith and Richard Wiltshire, Managing Directors and Co-Heads of Fund Investments at Apogem Capital.
The firm’s broader investment platform spans several areas of the private markets, including direct lending, private equity funds and co-investments, GP-led transactions, LP secondaries, GP stakes and private real assets.
Apogem Manages About $44 Billion
As of June 30, 2026, Apogem Capital managed approximately $44 billion in assets, underscoring the scale of its broader private markets operation.
The firm employs more than 250 professionals, including over 120 investment professionals, who oversee its range of investment strategies.
New York Life Remains Apogem’s Parent Company
Apogem Capital operates as a wholly owned subsidiary of New York Life through New York Life Investment Management Holdings, LLC.
The closing of the $597 million fund adds another vehicle to Apogem’s growing private equity platform as institutional investors continue to allocate capital toward private markets and lower middle-market opportunities.
