Apollo Global Management related stories
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S&P: Private equity-backed retailers in troubleStandard & Poor’s has a bleak outlook for the US retail sector in 2009. The ratings agency has ranked three retail companies backed by private equity firms at risk of defaulting on their debt payments.
- Clash of the Apollos
Leon Black’s Apollo Global Management looks to enter the real estate space.
- Apollo settles Huntsman dispute
Huntsman is due to receive a $1bn break-up fee from various parties involved in the failed deal, which was originally agreed in August 2007 as a $10.6bn add-on acquisition.
- Freescale ‘toggles’ to PIK option
In a worrying sign for a major LBO deal, the semiconductor company, bought out by a constortium of private equity investors for $17.6bn two years ago, has chosen to service a portion of its debt through in-kind securities in order to preserve cash.
- Mega-firms close in on $30bn
Carlyle has raised $14bn on its way to $15bn for Carlyle Partners V, while Apollo was reportedly set to close Fund VII on $15bn last week.
- Apollo Investment shakes up senior staff
The publicly listed affiliate of mega-buyout firm Apollo Global Management has promoted two senior executives as the result of its chairman stepping down from his role as CEO.
- Judge approves Warburg-backed Wellman's bankruptcy plan
Warburg invested $126m in polyester manufacturer Wellman in 2003 but saw the company collapse into bankruptcy in February amid rising raw material costs and a mountain of debt.
- Harrah’s seeks to restructure $3bn in debt
The Apollo Global Management and TPG-backed casino operator has struggled in the faltering economy with dwindling revenue and heavy debt loads. The company is seeking to restructure its debt to extend maturities and reduce its outstanding principal.
- Irving Place chief: ‘Horrendous’ holiday season ahead
Trouble in the retail sector presents opportunity, with 'some of the greatest fortunes' due to be made by savvy investors over the next year, according to John Howard, CEO of Irving Place Capital, formerly Bear Stearns Merchant Banking.
- Private equity-backed BTWW files for bankruptcy
The Texas-based western-style clothing retailer, backed by Sage Capital and Luther King Capital, has sold 22 stores to Marwit Capital on its way to total liquidation. BTWW is one of 35 private-equity backed companies that have crashed into bankruptcy in 2008.