The outlook for private equity is improving, but it is becoming increasingly hard to find opportunities at reasonable prices, said Josh Harris, a managing partner at Apollo Global Management, in an exclusive video interview with Reuters Insider at the Buyouts New York conference. Harris adds he doesn’t see prices of target companies coming down until leverage begins shows signs of tightening, which probably won’t happen until the Federal Reserve starts raising interest rates.
Apollo is one the the world’s largest private equity firms with $68 billion under management. The company went public at the end of March.
Harris told Rhonda Schaffler of Reuters that private equity continues to gain favor among institutional investors, and that trend is part of a general shift toward alternative investments.