By dropping solo bid plan and teaming up with Fortress, private equity firm is just one of the crew
Private equity firms and their co-riders love a consortium mashup, so one can’t be surprised that Apollo has dropped the idea of bidding solo for Morrisons and is instead trying to insert itself into the Fortress-led combo.
That consortium already looked crowded since, besides the Japanese-owned US investment firm, it also includes a Canadian pension fund and US conglomerate Koch Industries, but there’s usually room for a latecomer. It makes the original crew feel like they’re on to a winner.
