Apollo moves to restructurings, reduces credit exposure

Tue Jan 19, 2010

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“At the start of 2010, the baton has clearly been passed to the equity market..."

Savvy credit bets last year pushed the performance at Leon Black¹s Apollo Global Management beyond the stratosphere. The firm's Apollo Strategic Value Fund returned 76.84%, bouncing back dramatically from its 30% loss in 2008, bringing the fund¹s net annualized return to 10.45%. Now, arguing that equity will see bigger gains, the fund is moving away from credit and toward investments in restructurings.

"At the start of 2010, the baton has clearly been...


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