Apollo Global Management was founded in 1990 by Leon
Black. Apollo calls itself a "contrarian, value-oriented investor"
in private equity, credit, and real estate. It specializes in
investing in distressed securities, and managed more than $162
billion as of September 2015. Black, the firm's founder, formerly
worked for the once high-flying but now defunct investment bank
Drexel Burnham Lambert. Black had headed up Drexel's merger and
acquisitions unit; he founded Apollo not long after Drexel went out
of business. Today, Apollo employs 933 people. It is headquartered
in New York, and has additional offices across the U.S. and in
Europe and Asia. Apollo is still led by Black, who is the firm's
CEO, chairman, and director.