Apollo Hit Again as Aksia Tells Clients to Delay Investment
- Connecticut treasurer puts off committing new capital to firm
- Leon Black’s ties to Jeffrey Epstein are facing fresh scrutiny
Photographer: Patrick T. Fallon/Bloomberg
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Apollo Global Management Inc. is coming under increasing pressure as more institutional investors hold off committing fresh capital to the Wall Street giant.
Aksia, which advises on more than $160 billion of investor commitments, urged clients not to give money to Apollo amid lingering questions over co-founder Leon Black’s relationship with disgraced financier Jeffrey Epstein, according to people familiar with the matter. On Friday, Connecticut Treasurer Shawn Wooden said the state won’t commit new capital to the firm.