2024-05-04 07:00:00 ET
Summary
- Apollo’s earnings on Thursday reflected its transformation into a gigantic private lender, powered by dollars from its in-house insurance business.
- Blackstone focused on raising money from small-dollar investors for a new fund.
- For all the buyout firms’ conquests, muted deal markets remain a common foe.
By Breakingviews
The four biggest U.S. private equity firms have a combined asset hoard of nearly $3 trillion, but within that big number, each is on a different quest. Blackstone ( BX ), Carlyle ( CG ), KKR ( KKR ) and Apollo Global Management ( APO ) are all pursuing their own strategies, and their first quarter financials showed them hitting some important new targets. Each, though, has ogres to vanquish....
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Private Equity Giants Choose Their Own Adventures