Apollo 'Looking At' An IPO

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Apollo Management has been amazingly tight-lipped about the rumors of a possible IPO. Until now. Yesterday Leon Black confirmed that Apollo is considering an IPO of the buyout shop he founded.

Leon Black, founder of Apollo Management LP, said executives of the New York-based buyout firm were examining whether to sell shares to the public, a step being taken by rival Blackstone Group LP.
"We're looking at this, as is every other private-equity fund,'' Black, 55, said today during a panel discussion at the Milken Institute Global Conference in Beverly Hills, California. Any setback to equity markets, trading at record highs, would likely come from a "geopolitical'' crisis, he said.
Apollo is also considering the private sale of shares, which would raise capital while avoiding the scrutiny that comes with an initial public offering, two people familiar with the talks said April 5. A private placement wouldn't preclude an IPO, and would allow Apollo to gauge the success of Blackstone's offering before going ahead with its own, they said.

So that's the confirmation. Apollo is now officially considering selling equity, either in a private or a public sale. Got that?
Black Says Apollo Weighs IPO, Market Drop Possible [Bloomberg]

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