Apollo Global Management Inc. (APO) is negotiating a potential stake in CS First Boston, the investment banking unit that's being spun off of Credit Suisse Group AG (CSGN.EB), The Wall Street Journal reported Tuesday. Citing people familiar with the matter, the article said Apollo is one of a group of financial companies interested in acquiring a position in CS First Boston. Credit Suisse announced plans last year to carve the advisory business out of its investment bank into a new business under the revived name CS First Boston and based in New York City. In a separate deal announced in November, Apollo agreed to manage the $20 billion in remaining assets in Credit Suisse's securitized products group, as well as purchase a significant portion of the business. Apollo stock is up 13.8% in 2023, compared to a 6.8% rise by the S&P 500 . U.S. listed shares of Credit Suisse are up 15.3% in 2023.
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