market folly

Chase Coleman's hedge fund firm Tiger Global continues to acquire shares of Apollo Global Management (APO).

Per a new Form 4 filed with the SEC, Tiger Global bought 295,500 more shares of APO on May 1st at a weighted average price of $26.728.  After this latest buy, they now own over 30 million shares.

Private equity firms have attracted some big name hedge funds as of late.  We highlighted how ValueAct Capital took a stake in KKR recently as well.

Per Google Finance, Apollo Global Management is "an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company's segments include private equity, credit and real estate. The private equity segment invests in control equity and related debt instruments, convertible securities and distressed debt investments. The credit segment invests in non-control corporate and structured debt instruments, including performing, stressed and distressed investments across the capital structure. The real estate segment invests in real estate equity for the acquisition and recapitalization of real estate assets, portfolios, platforms and operating companies, and real estate debt, including first mortgage and mezzanine loans, preferred equity and commercial mortgage backed securities."