What are some people's thoughts on the Apollo IPO?
- Is this the best market for Apollo IPO?
- Down 40% on GS-TrUE
- Beatings Fortress and Blackstone have taken since IPO
Who do you guys think will lead the underwriting?
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Can you post a link to an article...I know JPM and GS were hired early last year for an Apollo IPO but didnt know it was still a consideration (esp. under current market conditions).
http://online.wsj.com/article/SB120769388679799477.html?mod=hpp_us_what…
While it is certainly not the optimal time to try and market a public offering for a large PE firm who's peer group is tanking and who's portfolio is publicly seen as faring badly - it sounds like these considerations are taking a back seat to the desire to raise money and put it to work in this market.
For long term value, if these PE firms keep getting whacked in the market they could become nice long term value. Eventually the credit markets will ease and when they do, Blackstone, Apollo, et al will start printing money again. I wouldnt go near them yet but if there is some positive indicators that the credit market is loosening, I'd take a small bet and slowly move in. I like them more than most of the I-bank stocks long-term.
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