As the stock market soared three years ago, Leon Black announced that his private equity firm, Apollo Global Management, was ?selling everything that?s not nailed down.?
But with the U.S. stock market hitting new highs in 2016, the buyout billionaire has taken many financial players by surprise and gone on a spending spree.
Black?s buying has made life particularly painful this year for hedge fund short sellers and other investors who had been betting against the shares of companies before Apollo swooped in and bought them all.
