Here's your summary from Apollo's Kleinman on Intel Stake, CapEx Pressures, Deal Valuations, IPOs (https://www.youtube.com/watch?v=dAw91pDe9YQ) on the Bloomberg Television channel:

**TLDR:** Private capital, like Apollo, is becoming increasingly important for funding large cap companies facing high levels of CapEx, while the IPO market is facing challenges due to changing equity markets.

1. Private capital, such as Apollo, is playing a crucial role in funding large cap companies facing high levels of CapEx due to digitization, globalization, and energy transition.

2. The IPO market is facing challenges as equity markets have fundamentally changed, with indexation leading to a focus on big stocks, making it harder for smaller companies to go public.

3. European leaders are recognizing the need for private capital to encourage growth and securitization in Europe, as the region is falling behind in manufacturing and access to capital.

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