Shares of private equity firm Apollo Global Management LLC priced at the top of a proposed range on Tuesday and the offering will raise a more-than-expected $565.4 million, an encouraging sign for other asset managers considering public offerings. Founded by former Drexel Burnham Lambert banker Leon Black in 1990, Apollo follows Blackstone Group (BX.N) and Kolhberg Kravis Roberts & Co (KKR.N) in the spate of private equity firms going public. The IPO could set the stage for others such as Carlyle Group [CYL.UL], which may file papers to go public later this year, a source previously told Reuters.
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