Breakingviews

Apollo’s energy IPO gives new life to quick flips

By Christopher Swann
September 30, 2013

Leon Black’s shop is taking EP Energy public less than 18 months after leading a $7.2 bln takeover. The turnaround contrasts starkly with the trend of longer buyout holding times. The twofold return on paper shows that private equity can still dig into its old bag of tricks.

Private equity titans revel in Great Separation

November 8, 2013

A blowout quarter at Leon Black’s buyout shop helped it stand out from rivals. Investors are finally starting to distinguish among Apollo, Blackstone, Carlyle and KKR. That should be a welcome change even if it reflects some short-term thinking about a long-term business.