Apollo’s Kleinman Expects PE Deals to Persist at Slower Pace

The Federal Reserve’s expected rate cuts are fueling hopes of a long-awaited deal comeback, but Apollo Global Management Inc.’s Scott Kleinman anticipates that private equity firms will keep selling their assets at a slower pace for the next few years.

“It’s not that it’s a tough exit environment,” Kleinman said Tuesday during an interview with Bloomberg TV. “If you paid reasonable prices for assets, you absolutely can get out now.”

Before the Fed began raising rates in 2022, years of near-zero policy allowed private equity firms to acquire good companies, according to Kleinman, co-president of Apollo’s asset management business ...