Apollo Alternative Assets, the Euronext-listed private equity fund of US buyout house Apollo Management, has become the latest firm to post writedowns in its first quarter results.
The firm suffered a drop of $193m (â¬124m) in the value of its investments due to the performance of the portfolio companies and capital markets investments. Overall, the decrease in net assets was $127.8m for the quarter. In the first quarter of 2007 its net assets rose by $89.2m.
