(Bloomberg) -- Apollo Global Management, the private equity firm whose co-founder Leon Black is pushing to attract more capital from small investors, is teaming up with Ivy Investment Management to offer two new mutual funds.

Ivy, a unit of Waddell & Reed, plans to start separate strategic income and multiasset income funds that will each allocate about 20% of their assets to a total return strategy run by Apollo, according to a filing in mid-July with the U.S. Securities and Exchange Commission.

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