Financial News US reports: Apollo Management, the US private equity firm, is reportedly working on an initial public after rival Blackstone last month launched a listing, which could value it at $40bn (€30bn).
Apollo is working with Goldman Sachs and JP Morgan on a possible offering according to Reuters.
CNBC also reported yesterday that Goldman is working with Apollo on a potential initial public offering.
Apollo raised $1.5bn for a listed buyout fund last June, $1bn less than the maximum it could have raised, and $3.5bn less than rival Kohlberg Kravis Roberts secured in the previous month with a similar vehicle.
Citigroup, Credit Suisse, Goldman Sachs and JP Morgan led the deal. Citigroup and Goldman, also worked on KKR’s $5bn buyout fund flotation, along with Morgan Stanley.