Apollo and Lazard to Form Strategic Partnership in Europe

Apollo Management and Lazard Group are forming a non-exclusive partnership in Europe.  The venture will be based in London.  This comes after earlier this month it was announced that London-based Apollo co-founder would be returning to New York after two years and will be replaced by another co-founder, Josh Harris.  The partnership is still in the development stages but looks to further enhance Apollo’s push into Europe where Apollo has maintained an office in London since 1993.  It’s largest European deal to date was the acquisition last February of Countrywide for nearly $2.1B and the firm was rumored to be interested in a white knight proposal for German tire manufacturer Continental.  Jean-Luc Allavena (H. 1986 and former president of the HEC Foundation) is a partner with Apollo in Europe.