Apollo's co-president Scott Kleinman expects a ‘thinning of the herd’ in private equity, warning that there is trouble ahead for buyout shops that overpaid for companies during the debt boom of recent years.
The industry veteran told Private Equity News: "This isn't the first time there’s been a boom and bust cycle. You can look back to 2008-09 and the subsequent years to know what happens.
"You...