Alternative asset management giant Apollo: The private equity industry will have "less liquidity, lower returns"

The private equity industry will see a situation of "less realization, lower returns". Scott Kleinman, Co-President of Apollo Global Management, stated that the private equity industry must face the reality of lower valuations. Private equity firms have not significantly reduced prices during a recent period of rapid rate hikes, which means that various investors will have to swallow a part of the entire system. By the end of 2023, a record $3.2 trillion will be tied up in aging, minority-held companies, posing a problem for the private equity industry. Nevertheless, Kleinman believes that there are bright prospects for new acquisitions in the next decade, and he also expects Apollo to engage in more deals similar to the $11 billion joint venture agreement reached with Intel this week