Private equity billionaire Joshua Harris thinks there are still plenty of underv...
FILE PHOTO: Joshua Harris, co-founder and a member of the board of directors at Apollo Global Management speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. REUTERS/Lucy Nicholson/File Photo
“Certainly, this is not a value-oriented environment,” said Harris, senior managing director of Apollo Global Management, “but we’re able to find really interesting diamonds in the rough.” Harris cited Apollo’s purchase of Aspen Insurance Holdings for $2.6 billion in August 2018 and Smart & Final Stores for $1.1 billion in April 2019 as examples.
Harris said at the New York event that sectors still under significant pressure, including banking, insurance and energy, still needed capital and provided opportunity for firms like Apollo.
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