‘Everything Is Not Going to Be OK’ in Private Equity, Apollo’s Co-President Says

Fewer realizations and lower returns are on the horizon
Apollo co-president spoke at SuperReturn conference in Berlin

WATCH: Apollo’s Kleinman discusses private equity, the prospects for IPOs and the outlook for deal valuations amid a higher interest-rate environment.Source: Bloomberg

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By Jan-Henrik Foerster and Kat Hidalgo

June 5, 2024 at 8:42 PM UTC

Updated on

June 6, 2024 at 10:40 AM UTC

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The private equity industry must face up to the reality of lower valuations, according to Apollo Global Management Inc.’s Scott Kleinman.

“I’m here to tell you everything is not going to be ok,” the Apollo co-president said in a session at the SuperReturn International conference in Berlin on Wednesday. “The types of PE returns it enjoyed for many years, you know, up to 2022, you’re not going to see that until the pig moves through the python. And that is just the reality of where we are.”