Finance

Apollo, CEO Leon Black seek outside review on his ties with Jeffrey Epstein

Key Points
  • Apollo Global Management and CEO Leon Black agreed to appoint an external counsel to review his ties with the late convicted sex offender Jeffrey Epstein, the buyout firm said.
  • Black requested that the board's conflicts committee retain outside counsel to conduct a "thorough review" of the information that he had brought forward about his relationship with Epstein.
Leon Black, Chairman, CEO and Director, Apollo Global Management, LLC, speaks at the Milken Institute's 21st Global Conference in Beverly Hills, California, May 1, 2018.
Lucy Nicholson | Reuters

Apollo Global Management and its chief executive, Leon Black, have agreed to appoint an external counsel to review his ties with late financier and convicted sex offender Jeffrey Epstein, the buyout firm said on Wednesday.

At a board meeting on Tuesday, Black requested that the board's conflicts committee, which is comprised of independent board members, retain outside counsel to conduct a "thorough review" of the information that he had brought forward about his relationship with Epstein, Apollo said in a regulatory filing.

The board committee has appointed law firm Dechert to conduct the review.

"In light of continued attention, it is in the best interests of Apollo, our employees, our shareholders and our LPs for there to be an independent review," Black said the filing.

"Proceeding in this manner is the best way to assure all of our stakeholders that they have all of the relevant facts, and I look forward to cooperating fully."

Black told Apollo's investors on Monday that he regretted having had links to Epstein, but denied any wrongdoing or inappropriate conduct related to his business and social relationship with Epstein.