New Morningstar Analyst Report for Apollo Global Management LLC

Apollo Global Management's specialization in illiquid credit instruments offers substantial potential in the coming years. Banks of all sizes, under tough regulatory scrutiny following the Great Recession, are shedding risky and complex credit assets to shore up their capital ratios. We see this as a secular trend, particularly as regulatory rules force banks to shed risk, and Apollo's relationships and deep expertise position the firm to earn lucrative returns.