Jan. 21 (Bloomberg) -- Apollo Global Management LLC, the private-equity firm run by Leon Black, named former U.S. Senator Evan Bayh as a senior adviser on policy.
Bayh, 55, said last year he wouldn’t seek re-election as Indiana’s junior senator. He previously served as that state’s governor, New York-based Apollo said in a statement today announcing the appointment.
Private-equity firms often tap former politicians and executives as advisers to improve access and knowledge about specific issues, geographies or industries. While in the Senate, Bayh chaired the Banking, Housing and Urban Affairs’ Subcommittee on Security and Trade and Finance.
Bayh earned a bachelor’s degree from Indiana University and a law degree from the University of Virginia.
Black, 59, a former Drexel Burnham Lambert Inc. banker, created Apollo in 1990. The firm, which owns companies including Caesars Entertainment Corp. and also makes investments in real estate and credit, had assets of $57.8 billion as of Sept. 30, 2010, according to its website.
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