SEC subpoenas Apollo over IRR calculations

Apollo Global Management, private equity, Nasdaq, Marketwired, journalism, public relations, merger, M&A
Leon Black, chairman and CEO of Apollo Global Management LLC, takes part in the Private Equity: Rebalancing Risk session during the 2014 Milken Institute Global Conference in Beverly Hills, California, on April 29, 2014. REUTERS/Kevork Djansezian - RTR3N514
  • Apollo received subpoena in December; is cooperating
  • Firm previously settled with SEC for $52.7 mln last year
  • Raising Fund IX, which could be largest traditional buyout fund
The SEC subpoenaed Apollo Global Management in December for information related to the calculation of internal rates of return for certain funds, as well as payments to a European service provider and personnel changes, according to SEC filings and due-diligence materials obtained by ...

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