Apollo Founders, Investors Sell Down As IPO Lockup Ends

Law360, New York (May 8, 2013, 2:51 PM EDT) -- Key Apollo Global Management LLC investors and two of its founders are selling shares worth up to $658 million after the expiration of a lockup period from the private equity firm's 2011 public debut, according to a Tuesday regulatory filing.

Abu Dhabi Investment Authority and California Public Employees’ Retirement System, which invested a combined $1.2 billion in Apollo nearly six years ago, will each offer stakes worth about $203 million at Tuesday’s closing price, according to a filing with the U.S. Securities and Exchange Commission. Each...
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