Imran Siddiqui, a former senior partner at Apollo Global Management, has begun efforts to raise more than $1 billion for a new vehicle focused on the life insurance sector, according to Bloomberg. Stephen Cernich, an alum of Apollo-backed annuity seller Athene, is reportedly also involved in the effort.
Siddiqui is just the latest investor this year to branch off from an established private equity firm in order to launch an independent vehicle, a trend that's been aided by the ease with which investors of all stripes are raising new pools of capital. Already this year, former employees of Bain Capital, KKR and several other industry heavyweights have closed debut funds of their own.
Here's a sampling of some of the highest-profile players to plunge into the great unknown during 2017: