Frictions arise between Wall Street and private equity clients

In the legal mudslinging between Leon Black and a woman with whom he once had an extramarital relationship, a curious third party appears: Goldman Sachs. In legal papers, the Apollo Global Management co-founder and the woman, Guzel Ganieva, agree that the venerable investment bank interviewed her for an entry-level position in 2014 at Black’s behest. Remarkably, Goldman even gave her face time with two of its most senior dealmakers despite Ganieva’s youth and professional inexperience. Top fee-payers such as Apollo have long had considerable sway with big Wall Street banks. But the power imbalance may be tipping even further. READ MORE