Apollo Global Management related stories
All articles and analysis
Mubadala holds $300m first close on MENA infrastructure fundMubadala, GE and Credit Suisse are reportedly raising $500m to invest in sectors including power, water, telecoms and transportation.
- Apollo-backed Sirius on the verge of bankruptcy
The only satellite radio provider in the US is struggling under a $3.2bn debt load. Apollo first invested in Sirius in 1998 and retains a 2.6% stake.
- TPG halts stake sale talks with LPs
Valuation difficulties have prompted the Texas-based mega-firm to cease talks that began more than a year ago with the Kuwait Investment Authority and two California pensions over the potential sale of a single digit stake in its management company.
- Colony to inject fresh cash in casinos
Las Vegas casino operator Station will receive up to $244m from Colony and the Fertitta family, which teamed to buy the company for $8.8bn in 2007. Station has missed a $15m interest payment and is considering filing for Chapter 11 bankruptcy.
- Apollo hires former Realogy chief as COO
Former Blackstone partner and Saul Steinberg protegee Henry Silverman will become the firm’s first chief operating officer. In 2007, he sold the reportedly now insolvent real estate company Realogy to Apollo for $8.5bn.
- Kravis, Black tout non-LBO strategies
KKR co-founder Henry Kravis has said firms in today’s tough financial climate have to ‘think outside the box’ and adapt strategies to capitalise on current market opportunities or risk being ‘left out’. He was echoed by Apollo chief Leon Black, who likened big take-privates to the extinct dodo bird.
- Firms buy Linens 'n Things brand for $1m
Intellectual property of the bankrupt former Apollo portfolio company has been acquired by private equity firm Hilco Consumer Capital and investment firm Gordon Brothers Group for vastly less than the original $1.3bn buyout value.
- Bankruptcy woes
Liquidations are more common in the bankruptcy world as financing for reorganisations has dried up, writes Christopher Witkowsky.
- Black: Apollo's debt bets were ‘a little early’
Apollo founder Leon Black has expressed confidence in the more than $15bn in senior loans owned by his firm, saying the risk/reward profile of the investments remained highly attractive despite margin call headaches. Apollo closed its seventh buyout fund on $14.8bn in December.
- TPG, Goldman close largest ever private equity exit
The two mega-firms officially closed the sale of Alltel to Verizon Friday for $28bn after holding the wireless carrier for about a year. The firms reaped a profit of $1.3bn on the deal.