Cambridge Tells Apollo Investors It May Stop Recommending Firm

Cambridge Associates, the investment firm that advises on about $410 billion in assets, may stop recommending funds offered by Apollo Global Management Inc., according to people familiar with the matter.

The firm told clients that it was considering the move due to lingering questions over Apollo co-founder Leon Black’s links with disgraced financier Jeffrey Epstein, said the people, who asked not to be named because the matter isn’t public. No final decision has been made, they said.

Leon Black

Photographer: Patrick T. Fallon/Bloomberg

Representatives for Cambridge Associates and Apollo declined to comment.

Cambridge Associates advises institutions such as pension funds and ...