MUMBAI: Global private equity majors Blackstone, Apollo Global Management and The Carlyle Group reported a sharp fall in the value of their private equity portfolios as the covid-19 pandemic ravaged markets and economies, forcing the firms to mark down their investments.
These three firms collectively manage over $1 trillion in assets across private equity, credit and real estate. Apollo Global, which on Friday announced results for the quarter ended 31 March, reported a 21.6% decline in its private equity portfolio. "Private equity fund depreciation during the quarter of (21.6%), driven by markdowns across public and private portfolio company holdings, including some impact from our energy holdings," the firm said in its earnings