Apollo said to be in talks with Abu DhabiThe private equity firm founded by Leon Black may sell a stake to the powerful Gulf investment fund ahead of an initial public offering - WSJ.LONDON (CNNMoney.com) -- Apollo Management could be the next private equity firm to head to the public markets. The firm founded by Leon Black is in talks to sell a stake to the investment arm of the Abu Dhabi government - a move which could come ahead of a public listing, according to a report in the Wall Street Journal published Thursday. Black was in Abu Dhabi for talks early last week, the newspaper said, adding that a deal is not certain. Blackstone Group (Charts) sold a stake of less than 10 percent to the investment arm of the Chinese government ahead of its initial public offering. Many industry watchers say that offering, which raised $4.1 billion last month, has paved the way for other private equity firms to follow suit. Kohlberg Kravis Roberts filed earlier this week to go public in a $1.25 billion offering. Apollo Management has long been considered a prime candidate for a public listing. The Abu Dhabi Investment Authority is considered one of the most powerful institutional investors in the world |
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