Daily News: April 7, 2014

Bloomberg: Apollo Bets on Emerging Markets with Ex-JPMorgan Trader

Bloomberg reported Leon Black, who made billions by buying up debt of companies in the U.S. and Europe, is turning to emerging markets as the next source of growth for his $161 billion money management firm.

According to Bloomberg , Apollo Global Management, the private equity and distressed debt specialist co-founded by Black, is starting a unit to primarily buy investment-grade and high-yield corporate debt from Latin America and Asia, according to Tolga Uzuner, who is heading the group.

To read the entire Bloomberg article, click here.