‘It Is Quite Spotty’: Apollo Sees Lack of Distress Persisting
- Double-digit returns aren’t available: Co-President Zelter
- Executive sees little distress over the next 18 months
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Distressed investing has gotten incredibly difficult with central banks aggressively fighting Covid-19’s economic drag. A senior executive at private-equity giant Apollo Global Management Inc. says that might take 18 months or longer to change.
“It’s hard to see distress on the doorstep in ’21, possibly late ’22,” James Zelter, co-president and chief investment officer of credit at Apollo, said in a Bloomberg Television interview Wednesday. “Putting new money in today, it is quite spotty.”