Apollo/KKR: Black copy cat?

Henry Kravis’ Kohlberg Kravis Roberts has found a clever way to list its shares in a tricky market. Leon Black’s rival firm, Apollo Management, is also planning to list shares on the New York Stock Exchange. But Kravis’ deal has several advantages. Neither firm’s plan requires it to tap new investors. Apollo is already traded on Goldman Sachs’ private exchange, GSTrUE, and its shares will be relisted on the NYSE. KKR, which doesn’t yet have its own base of external investors, is creating one fo...