Apollo Global Management related stories
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Crown kills $1.75bn deal with Oaktree-backed CanneryThe collapsed Cannery Casinos deal is the latest sign of turmoil in the US gaming industry, where several private equity-backed casino operators, like Harrah’s and Station, are battling heavy debt loads and plummeting sales. Rather than buying Cannery as agreed, Australian casino operator Crown will pay $370m for a 24% stake.
- Aleris gets $1bn bankruptcy loan
The insolvent maker of aluminium products received court approval for a $1.075bn bankruptcy financing package despite objections from various lenders, including its owner TPG, and lenders Babson Capital and GSC Group.
- Carlyle nets $234m from Maneely break-up
Russian steelmaker Novolipetsk Steel will pay the buyout firm less than half the maximum possible damages for withdrawing from the $3.53bn acquisition of John Maneely, a deal struck last August.
- KKR eyes $1bn to $3bn for debut mezz fund
The mega-firm will join the ranks of other private equity players looking to offer mezzanine financing, which surges in demand when senior lenders withdraw from the LBO market.
- Moody's downgrades Clear Channel debt to junk
The US radio and advertising company, which was purchased by Bain Capital Partners and TH Lee last year in a $17.9bn deal, had its rating fall to deeply speculative territory, with Moody’s warning of default.
- TPG objects to $1bn Aleris bankruptcy financing
TPG’s objection comes after Babson Capital and GSC said the proposed bankruptcy financing is unfair to first-lien lenders who do not participate in the financing package.
- Apax sells minority stake to GIC, Future Fund
None of the sale's proceeds have been used to cash out Apax GPs, but rather will be re-invested in a permanent capital vehicle that will invest in Apax funds.
- KKR touts environmental savings
The US mega-firm, which has recently pledged to adopt socially responsible investment strategies, says three of its portfolio companies have saved more than $16m through green policies, with other portfolios set to follow.
- Who’s responsible?
The largest private equity firms in the world have committed to consider socially responsible investment guidelines. Is this all just PR window dressing? asks Christopher Witkowsky.
- Mega-firms embrace socially responsible investing
Some of the world’s biggest private equity firms – including KKR, Blackstone, Carlyle, Permira, Providence, Apax and Apollo – have committed to consider environmental, social and corporate governance issues when making investments.