Skip to content
Subscriber Only

Apollo May Raise $499 Million Selling at Discount to Peers

Apollo Global Management LLC plans to raise as much as $499 million in its share sale this week, betting a recovery of capital markets will spur investors to buy the stock at a discount to Blackstone Group LP and KKR & Co.

Apollo, the New York-based private equity firm led by Leon Black, is scheduled to offer 26.3 million shares for $17 to $19 each today, according to a regulatory filing. Goldman Sachs Group Inc. is among the investors that will sell a partial stake. The midpoint price would value Apollo at 5.4 times adjusted earnings of $1.18 billion last year, compared with 14 times for Blackstone and 5.7 times for KKR, Bloomberg data show.