Apollo to list on Goldman exchange - reportListing on new exchange will allow the private equity firm to cash in on buyout boom while limiting public scrutiny, according to Wall Street Journal.LONDON (CNNMoney.com) -- Private equity firm Apollo Management LP plans to list its shares on a Goldman Sachs exchange that will be available only to institutional and other sophisticated investors, the Wall Street Journal reported Tuesday. The firm founded by Leon Black is the latest private equity firm to cash in on the success brought by the buyout boom. Blackstone Group made its debut on the New York Stock Exchange last month and KKR has filed to list its shares on the Big Board. But unlike Blackstone (Charts) and KKR, Apollo will be able to retain some of the advantages of being private by listing on the new Goldman Sachs (Charts, Fortune 500) exchange, which aims to limits its members exposure to the scrutiny of public markets, the newspaper said. The listing will occur after Apollo sells a stake of itself to the investment arm of the Abu Dhabi government, the report said. Apollo is also likely to sell a stake to the California Public Employees' Retirement System, it said. |
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