Apollo Global Management, LLC is an American public equity firm, founded in 1990 by former Drexel Burnham Lambert banker Leon Black. The firm specializes in leveraged buyout transactions and purchases of distressed securities involving corporate restructuring, special situations, and industry consolidations. Apollo is headquartered in New York City, and also has offices in Purchase, New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Madrid, Singapore, Hong Kong, Delhi, and Mumbai.As of March 2018, Apollo managed over US$247 billion of investor commitments across its private equity, credit and real asset funds and other investment vehicles, making it the second-largest US-based alternative asset management firm. Among the most notable companies currently owned by Apollo are Claire's, Caesars Entertainment Corporation, CareerBuilder, Novitex Enterprise Solutions, ADT, and Rackspace.