Apollo mulls a private placement

We noted previously that rumors were rife about Apollo Management following the Blackstone Group to an IPO. Turns out that Leon Black and his team are mulling a private placement, specifically a 10 percent stake to institutions. Such deals do not require the same level of disclosure as a public offering. This would be a nice cash out of course, and it would be a way to take the company public. Stock purchased in private placements can be traded on public markets, often over the counter, after a specified period of time. The rumors held that Apollo was in talks with JPMorgan and Goldman Sachs about an offering. But later reports say that Apollo is working with the two banks on another possible deal. Needless to say, rumors can really run rampant on the Street.

For more:
- here's the New York Times article