"Private Equity Faces Uncertain Future Amid Investor Concerns"
Apollo Global Management's Co-President Scott Kleinman warns that the private equity industry must brace for lower valuations and returns due to higher borrowing costs and economic uncertainty. He highlights that the industry did not take significant markdowns during recent rate hikes, leading to a challenging period ahead. Despite this, Kleinman sees potential in new buyouts, particularly in the US, and expects Apollo to continue participating in significant deals.