Goldman's seen enough of sizable declines this year in a couple of Buy-rated private equity names, and downgrades Apollo Global (APO) and Carlyle Group (CG) to Hold. Apollo's price target is cut by $10 to $28.
Both companies - along with the rest of the P-E industry - reported sharp falls in profits in Q1 after big years in 2013.
Previously: Carlyle slides 4.7% on slowed dealmaking pace
Previously: More on Apollo Q1 results