Apollo Posts Loss on Lower Valuations
(Reuters) - Apollo Global Management LLC posted a wider-than-expected quarterly loss on Thursday as jittery financial markets hit the value of its private equity assets. Private equity has had a tough third quarter as the decline in markets led to a lower value of portfolios, while buying and selling assets has become more challenging as markets fluctuate and debt financing remains tight. Last month, peer Blackstone Group as well as the private equity segments of banks such as JPMorgan Chase & Co and Goldman Sachs reported losses in the third quarter. KKR is due to report results on Friday.
3 November 2011•2 mins read
