The NYT profiles Leon Black's Apollo Group.
Having just reread the article I ask myself: If I were a PE fund investor and either had an investment in an Apollo Group fund or was considering one, would this article help me evaluate my investment? My answer is: not really. And yet how much more and better information do actual LPs get than what's in the article? I'd be interested to hear from those who know.
It goes back to the ultimate question for the money manager selector, and the ultimate subject of this blog: how can you evaluate the decisionmaking ability of the manager given the imperfect information you have, and given that you can't do his work yourself for him?