Apollo said to be in talks with Abu Dhabi

The 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 Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.