Apollo's Josh Harris Breaking Away to Start Own Fund

The transcript discusses the launch of a new private equity fund by a co-founder of Apollo, who was passed over for the CEO position. The fund will focus on smaller middle-market deals with a target of $5 billion, and it will not directly compete with Apollo. The news is significant as it marks a new era in private equity, with the individual aiming to build a team and invest again. The catalyst for this move was being passed up for the CEO role at Apollo, with Mark Rowan taking over. This shift is expected to have a notable impact on the private equity landscape.

What is the significance of the news regarding the private equity fund mentioned in the text?

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What type of deals is the new private equity fund focusing on?

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How does the new fund plan to position itself in relation to Apollo?

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What was the reason for the individual leaving Apollo?

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Who are the key individuals mentioned in relation to the private equity fund?

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