Private Equity: Leon Black Talks Aramark, the U.S. Economy, and the Feds

April 14, 2020 | News, Private Equity
https://dailyalts.com/wp-content/uploads/2020/04/53e6d6474851b10ff3d8992cc62c3e761c3dd6f85254794f7d277edc954e_640.jpg

Leon Black made a rare appearance in the media yesterday.

The co-founder of alternative asset manager Apollo Global Management (NYSE: APO) appeared on CNBC along with Aramark (ARMK) CEO John Zillmer. During the conversation, the two discussed their NYC Health Heroes program. Aramark, the world’s largest U.S.-based provider of food, facilities, and uniforms, partnered with Mr. Black’s family foundation. They are supporting the effort of more than 100,000 New York City healthcare professionals combatting the COVID-19 pandemic.

Leon Black on COVID-19

The Black Family has committed $20 million, including an initial $10 million donation and plans to match any additional donations up to $10 million, bringing the total possible raise to at least $30 million. The initial donation will be made to the Mayor’s Fund to Advance New York City, and Robin Hood will manage the receipt of matching 501(c)(3) donations. The program, launched in partnership with the Mayor’s Fund to Advance New York City, Robin Hood, New York City’s largest poverty-fighting organization, and the American Red Cross.

It will provide at least 300,000 and up to 500,000 packages of shelf-stable food, household cleaning, and personal care products. It will also offer over-the-counter medicine to hospital staff. Aramark is donating labor to provide procurement, assembly, and delivery services.

Mr. Black also discussed his firm and the economy during his appearance. He told the network that “The last few weeks have shown us the benefit of Apollo’s value-oriented approach, which has always emphasized downside protection and less leverage use and also to really be able to navigate cycles. And clearly, the first and foremost thing we do is protect our own portfolio for our investors, but because we have a very strong balance sheet and a lot of dry powder, we also try to be opportunistic.”

He also thinks the Federal Government has done a very good job getting financial relief to individuals and businesses. Mr. Black said that his firm is looking at opportunities in beaten-down sectors like insurance and leisure.

Related: Leon Cooperman: Stop Vilifying Billionaires

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/11/bitcoin-g1bf54ae90_640.png
Digital Assets: MicroStrategy’s Saylor, El Salvador’s Bukele Both Buy The Bitcoin Dip
November 30, 2021     Digital Assets, Latest News, News

Path-breaking corporate bitcoin investor MicroStrategy (NASDAQ: MSTR) said in a filing Monday that it purchased approximately 7,002 bitcoins for about $414.4 million in cash, or $59,187 per coin, between October…

https://dailyalts.com/wp-content/uploads/2021/11/Wise-both-product-family-asset.png
FinTech: London-Listed, Global Fintech Wise To Expand Its North America Business
November 30, 2021     FinTech, News

Wise (LON: WISE), the global payments processor previously known as TransferWise, announced a 2022 expansion plan for its operations in North America given its solid growth in the half year…

https://dailyalts.com/wp-content/uploads/2021/11/School_of_the_Arts_Singapore.jpg
Alternative Investments/Real Estate: UOB Launches APAC-Focused, Green REIT ETF

Singapore’s United Overseas Bank ( UOB ) Asset Management has launched the UOB APAC Green REIT ETF (GRE SP), which has been listed on Singapore Exchange and provides ESG-tilted exposure…

https://dailyalts.com/wp-content/uploads/2021/11/FFbZ-a4XoAMdYXQ.jpg
Venture Capital: European VC Fund Partech Closes $750M Second Growth Fund
November 30, 2021     News, Venture Capital

Partech, which invests its venture capital in tech and digital companies at all stages in Europe, North America, Africa and Asia, announced today the close of its second fund at…