Apollo’s Matt Nord Says Firm Targeting Corporate Carve-Outs

Apollo Global Management Inc. pivoted toward corporate carve-outs and take-private deals as the economy rebounded during the pandemic, according to Matt Nord, the firm’s co-head of private equity.

“Companies want to shed assets, narrow their focus, pay down debt,” said Nord, speaking on Bloomberg Television at the Milken Institute Global Conference, noting that there will be other opportunities given the amount of leverage in the system.

WATCH: Matt Nord, Apollo Global Management’s co-lead of private equity, discusses how the firm has invested during the pandemic.

(Source: Bloomberg)

So-called zombie companies, firms that limp along unable to pay their interest burden, made up 20% of the S&P 500 last year, he said.

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