After buying $15 billion of debt last year at what it then claimed were all time low prices, the firm lost even more as the value of this purchase proceeded to lose another 20-30%. “We were probably a little early,” Black told the audience today. “We’ve been traversing our way through that.”
We are curious if anyone has any clue as to where Apollo is currently marking the equity value on their existing fund investments, and how long it will take regulators to go after so-called "Level 3" assets, which are probably evaluated by call centers in Calcutta.
Additionally, Apollo seems to be raising a $500 million hedge fund to trade copper, gold and mining stocks. We assume that is because the fund is convinced there is no way these investment can trade any lower... Deja vu?Sphere: Related Content Print this post