- “I’ve seen retail come in and out of this asset class at exactly the wrong time for three cycles,” says Apollo Global's (APO +0.9%) Josh Harris. “This is about the time that retail floods in right at peak multiples and gets hammered, and then at the first sign of trouble flees.”
- Presenting today at the Morgan Stanley Financials conference (earlier coverage), Harris isn't buying the pitch of Blackstone's (BX) Steve Schwarzman and Carlyle's (CG -1.9%) David Rubenstein that mom-and-pop investors are going to be significant contributors to P-E assets under management.
- "I think some of what you’re seeing is simply a [up] cycle," says Harris, "and it will turn around a bit ... We're going to be disproportionately an institutional platform."
- ETFs: PSP, PEX
From other sites
Apollo Global Management : Great Wolf Resorts, Inc. : to be Acquired by an Affiliate of Centerbridge Partners, L.P.at 4-traders.com (Mar 24, 2015)
at Nasdaq.com (Mar 24, 2015)
at CNBC.com (Feb 13, 2015)
at Nasdaq.com (Feb 11, 2015)
at Benzinga.com (Feb 4, 2015)
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