Apollo Global Management LLC is seeking to raise as much as $1 billion for a new aircraft-finance fund, Bloomberg reports.

The fund, expected to launch this year, would make various aviation investments and have a nine-year term, according to a person with knowledge of the matter, who asked not to be identified because the information isn’t public, Bloomberg reports. A spokesman for New York-based Apollo declined to comment.

The $280 billion money manager has long been active in aviation. Earlier this year, Apollo was trying to line up financing to purchase some or all of General Electric Co.’s jet-leasing business, which could be worth as much as $40 billion.

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