Apollo’s Zelter Predicts ‘Washout’ With Some PE Firms Dissolving

The prolonged fundraising slowdown for private equity isn’t going to reverse course anytime soon and poses an existential crisis for certain firms, according to Apollo Global Management Inc. President Jim Zelter.

“I don’t expect a massive monetization cycle to hit,” Zelter said Tuesday at the Barclays Global Financial Services Conference. “I think there’s many, many PE funds that are out there that have raised their most recent fund and don’t realize it’s their last fund.”