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EXCLUSIVE: Apollo Global Targets Real Estate

Stock quotes in this article: MS , BX , C , VNO  

What's missing from private equity giant Apollo Global Management's IPO prospectus? Chairman Leon Black, a veteran leveraged buyout master, is quietly launching a real estate fund that he hopes will compete with those raised by top dogs Morgan Stanley (MS Quote) and Blackstone Group (BX Quote).

Apollo Global filed in April to raise public funds and sell a stake in the company, which has $40.7 billion in assets under management.

Black's firm was an investor in several major public company leveraged buyouts in recent years, including casino owner Harrah's Entertainment and residential real estate broker Realogy. ...

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