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Apollo Faces Canada Pension Review as Stain Outlasts Black

  • The CPPIB weighing whether to stop investing with buyout firm
  • Concerned about Apollo’s handling of Black’s ties to Epstein
Leon Black
Leon BlackPhotographer: Patrick T. Fallon/Bloomberg
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One of the world’s largest private equity backers may be pulling back from Apollo Global Management Inc. as the buyout giant struggles to move past the taint of a co-founder’s ties to convicted sex offender Jeffrey Epstein.

The Canada Pension Plan Investment Board, which manages $500 billion, is weighing whether to keep investing with Apollo, according to a person with knowledge of the Toronto-based fund’s deliberations. The CPPIB is disappointed with Apollo’s fund performance and the firm’s handling of former Chief Executive Officer Leon Black’s relationship with Epstein, the person said.