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Apollo Management, the $16 billion private-equity firm founded by financier Leon Black, is leaning toward going public later this year, CNBC's Charlie Gasparino has learned.
Apollo, the latest private-equity firm to consider going public, may offer shares to the public as early as this fall, Gasparino said. One source close to the deal told Gasparino that Apollo is "90% certain" to carry out the transaction.
Goldman Sachs is advising Apollo on the possible deal, as is JPMorgan Chase.
"It's not a done deal, but my sources tell me they're pretty far along in the talks," Gasparino said.
Apollo's move comes after Blackstone Group, one of the world's largest private-equity funds, announced plans last month to raise up to $4 billion through an IPO.
Other private-equity firms are weighing such offerings, including Carlyle Group and Citadel Investments, people with knowledge of the matter told Gasparino. Apollo is leaning toward completing a public offering before the end of the year, Gasparino said
A spokesman for Apollo did not return a call for comment. A Goldman Sachs spokesman had no comment.
Goldman and JPMorgan's involvement with Apollo sheds some light on why the firms, two of the top investment banks on Wall Street, were not appointed to serve as major underwriters for Blackstone's IPO, Gasparino said.
Since a Blackstone IPO would be competing with a potential public offering by Apollo, it would be difficult for Goldman and JPMorgan to do both, Gasparino said.
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