Apollo is said to have hired Goldman Sachs Group Inc. and JP Morgan Chase & Co. to oversee a private offering. A call to Apollo's spokesman went unreturned today.
Blackstone's IPO represented a 10% chunk of the company, a figure Apollo appears to be emulating with its $1.5-billion offering. Since its inception in 1990, Apollo has invested $16 billion and has several additional transactions waiting in the wings.
Apollo, which was founded by Leon Black, is on the cusp of closing a $9 billion merger with Realogy Corp. Shareholders approved the merger a week ago, and expect to close early next week.
In March, Claire's Stores agreed to be purchased by Apollo for $3.1 billion, as GSR reported.
In late February Apollo offered to purchase Countrywide plc, a British residential real estate service provider, for one billion pounds ($2 billion).
In December, Apollo agreed to purchase Harrah's Entertainment for $27.8 billion in conjunction with Texas Pacific Group.
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