Ares, Apollo prepare to deploy PE funds in distressed debt

Apollo Global Management, private equity, Leon Black, Josh Harris, Marc Rowan
Joshua Harris speaks to the media while he attends an NHL hockey news conference announcing the new owners of the New Jersey Devils at Prudential center in Newark, New Jersey August 15, 2013. The New Jersey Devils hockey team was expected to announce on Thursday that Philadelphia 76ers owner Josh Harris has agreed to purchase a controlling interest in the franchise and its arena, pending league approval, media reports said on Wednesday. REUTERS/Eduardo Munoz (UNITED STATES - Tags: SPORT ICE HOCKEY) - RTX12MQ1
  • Ares’s Bennett Rosenthal, Apollo’s Josh Harris bullish on distressed debt
  • Markets “ready and expecting some sort of downturn,” says Rosenthal
  • “Our flow of distressed-for-control investments has increased,” says Harris
Ares Management and Apollo Global Management expect to deploy their new private equity funds in distressed for control deals, a departure from the traditional buyouts that dominated their pipelines for much of the last half decade. “This feels like one ...
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