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.