Leon Black stepped down as CEO of Apollo Global Management, a private equity firm that has made several investments in the healthcare space, the firm said March 22.
Mr. Black, a co-founder of Apollo, was set to leave the position before July. He cited health issues with himself and his wife as reasons for the departure. Mr. Black also had financial ties to disgraced financier Jeffrey Epstein, according to The Wall Street Journal.
Apollo co-founder Marc Rowan is now CEO of Apollo.
It is unclear if a change in leadership will affect Apollo's strategy in the healthcare space, where it has made several deals. For one, Apollo owns Brentwood, Tenn.-based hospital operator LifePoint Health. Additionally, in November 2020, a portfolio company of Apollo entered into a definitive agreement to acquire AMAG Pharmaceuticals, a Waltham, Mass.-based biopharmaceutical company.
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