Apollo Global Management executives said the market selloff this week creates opportunity to buy assets, especially credit products.
Discussing second-quarter earnings results–the first quarterly report since the New York firm’s debut on the New York Stock Exchange in March–Apollo President Marc Spilker struck a cautiously optimistic tone, pointing to the firm’s two-prong approach to private equity investing: doing leveraged buyouts during the economic upturn and buying distressed assets during the downturn.
Noting the stock market selloff sent Treasury yields near record lows hit in December 2008, Spilker said, “We are at the front foot of deploying capital…Prices are cheap.”
Read more at: The Wall Street Journal
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