Apollo’s Zelter Says the Bar for Investments Has Been Raised

The bar for approving investments at Apollo Global Management has gotten higher and higher over the last year or so, according to President Jim Zelter, amid rising tail risk from geopolitics.

“You have a lot of great things going on, a massive capex cycle and good economic growth and consumers in solid shape” in the US, Zelter said Thursday in an interview on Bloomberg TV, but “there’s lots of challenges between geopolitics and concerns about inflation and the return of invested capital and AI.”

Planned layoffs topped 1.2 million in the US last year, the most since 2020, stoking ...