At a time when many private equity firms have found attractive deals hard to come by, Apollo Global Management—a reported suitor in a potential buyout of Hewlett Packard Enterprise—is having no such problem.
Apollo invested $5.9 billion in new opportunities in the second quarter of this year, more money than its three largest competitors invested during the same period—combined. Still, the private equity firm said it managed to avoid overpaying for deals, spending an average of six times earnings for its buyouts while the overall industry paid an average valuation multiple of 10.
