Black’s Apollo ‘Selling Everything’ as Prices Have Risen

Leon Black, chief executive officer of private-equity firm Apollo Global Management LLC, said prices for traditional buyouts have risen so much that it’s a good time to sell.

“We think it’s a fabulous environment to be selling,” Black said during a panel discussion today at the Milken Institute Global Conference in Beverly Hills, California, adding that Apollo has sold about $13 billion of assets in the past 15 months. “We’re selling everything that’s not nailed down in our portfolio, and if it is nailed down, we’re refinancing it.”