Hey guys, I know reputation of Apollo is that they pay significantly above the street. But aside from that, how are their strategies/focus different from the other big megafund shops? Do they focus on tech/distressed?
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This is just from going through the buyside recruiting process, so take it with a grain of salt: 1) Post-financial crisis, they invested pretty heavily in distressed debt/distressed for control situations and made huge profits when the economy recovered. Not sure if other megafunds can do that. 2) Their primary industries include industrials, FIG, energy, consumer, and media, but not much tech/healthcare/pharma or "higher multiple" sectors 3) They're known for being pretty savvy when it comes to capital structure and negotiating with creditors 4) The analyst program is a bit different, as they promote pretty quickly (youngest partner is 32 or something) and have a strong preference for people who want to skip business school and stay on long term. Analysts are generalist as the class is very small relative to fund size (~2-4/year) 5) They try to avoid broad sellside auctions but are drawn to spin offs and more complex situations
Apollo - 4 Strategies (Originally Posted: 11/29/2013)
Apollo describes 4 strategies on its website for PE: traditional, distressed, partner buyouts and other. Are these different funds with different mandates, or do these just describe the different strategies that their standard buyout fund can employ? Similarly, is recruiting done for each one independently?
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Anyone?
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