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Apollo To Buy Citi’s Real Estate Unit

Posted on: March 10th, 2010

(Reuters) - U.S. private equity firm Apollo Management LP has agreed to buy Citigroup's (C.N) real estate investment division, Bloomberg said, citing a person with knowledge of the deal. The inclusio...


peHUB

Reliance May Look Elsewhere as Lyondell Hopes Fade

Posted on: March 2nd, 2010

MUMBAI (Reuters) - LyondellBasell has rejected Reliance Industries' (RELI.BO) offer that values the bankrupt U.S. petrochemicals group at $14.5 billion, Bloomberg said on Tuesday, a decision that coul...


peHUB

Report: Apollo Poised to Win LyondellBasell Deal

Posted on: March 1st, 2010

(Reuters) - A creditor group led by U.S. private equity firm Apollo Management [APOLO.UL] is expected to to reject India's Reliance Industries Ltd's (RELI.BO) bid for bankrupt chemicals maker Lyondell...


peHUB

Harrah’s Posts Q4 Profit with Lower Revenues

Posted on: February 25th, 2010

(Reuters) - Harrah's Entertainment Inc [HAMLEH.UL], the world's largest casino operator by revenue, reported a fourth-quarter profit on Thursday, compared with a year-earlier loss, but revenue fell 8 ...


peHUB

Apollo, TPG Still Bidding for Styron

Posted on: February 23rd, 2010

NEW YORK (Reuters) - A number of private equity firms put in second round bids for Dow Chemical's (DOW.N) Styron unit a week ago, including buyout firms TPG and Apollo, several sources said. Dow, t...


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Apollo Eyeing Zale Corp

Posted on: February 23rd, 2010

(Reuters) - U.S. private equity firm Apollo Management [APOLO.UL] is looking to pick up a stake in struggling U.S. jewellery retailer Zale Corp (ZLC.N), the Wall Street Journal said, citing people fam...


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Leon Black at SuperReturn: PE Financing Recovering

Posted on: February 9th, 2010

BERLIN (Reuters) - Banks are getting more comfortable lending for buyouts, and at higher multiples, said private equity group Apollo Management's founder Leon Black, but a return to the mega-deals of ...


peHUB

Apollo Closes New European Fund

Posted on: February 2nd, 2010

Apollo Management has held a €1.4 billion final close on its European Principal Finance Fund, according to LBO Wire. The fund invests primarily in European non-performing loans. www.apolloalternativ...


Dan Primack

Leon Black Supports Change To Carried Interest Tax

Posted on: January 27th, 2010

The WSJ's Dennis Berman just finished interviewing Apollo Management boss Leon Black, as the closing keynote to Dow Jones' PEA Outlook Conference. Lots of talk about distressed debt and private equity...


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Large Cedar Fair Shareholder Blasts Apollo Buyout Offer

Posted on: January 22nd, 2010

NEW YORK (Reuters) - One of the largest shareholders of theme park operator Cedar Fair (FUN.N) plans to vote against the $2.4 billion takeover by private equity firm Apollo Management, saying the pric...


peHUB

Shareholder Sues To Block Apollo-Cedar Fair Deal

Posted on: January 21st, 2010

WILMINGTON, Del. (Reuters) - A shareholder sued the management of Cedar Fair LP (FUN.N), a theme park operator, for agreeing to sell the company too cheaply to Apollo Management and asked a judge to b...


Dan Primack

CalPERS and Conflicts: What Was It Thinking?

Posted on: December 22nd, 2009

In 2007, I reported extensively on the relationship between CalPERS and Pacific Corporate Group, a private equity advisory and investment firm based in La Jolla, California. PCG had just suffered a m...


peHUB

Report: Apollo Files Gala Coral Rescue Plan

Posted on: December 20th, 2009

LONDON (Reuters) - U.S private equity firm Apollo has approached British bookmaker and bingo group Gala Coral with a rescue proposal, according to The Sunday Times, citing sources familiar with the pl...


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Report: Sanjay Patel Joining Apollo Management

Posted on: December 18th, 2009

Sanjay Patel has agreed to join Apollo Management as head of international private equity, according to Dow Jones. He previously was co-head of European private equity and junior debt investing at Gol...


peHUB

Update: Apollo To Buy Cedar Fair for $635 Million

Posted on: December 17th, 2009

NEW YORK (Reuters) - Private equity firm Apollo Management on Wednesday said it has agreed to buy Ohio theme-park company Cedar Fair (FUN.N) for $635 million. The total transaction is valued at $2....


peHUB

Report: Apollo To Buy Cedar Fair

Posted on: December 16th, 2009

Apollo Management is nearing a deal to acquire Sandusky, Ohio-based theme park operator Cedar Fair Entertainment (NYSE: FUN), according to the Wall Street Journal. The deal would be valued at approxim...


peHUB

Apollo Completes Parallel Petroleum Acquisition

Posted on: November 27th, 2009

Apollo Global Management has completed its take-private acquisition of Midland, Texas-based Parallel Petroleum Corp. (Nasdaq: PLLL). The deal was valued at approximately $438 million, or $3.15 per sh...


Dan Primack

Apollo Amends IPO Filing, Discloses New Performance Figures

Posted on: November 23rd, 2009

Apollo Global Management today filed an amended S-1 filing with the SEC, as it continues its march toward a public listing. Not much in terms of new IPO information -- no pricing expectations, for ...


Erin Griffith

Weekly Downgrade Wrap-Up

Posted on: November 20th, 2009

As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies from S&P and Moody’s Investors Service. This week was a busy one for downgrades and debt exchanges, with...


peHUB

Apollo, BC Partners Selling Unitymedia for $5.2 Billion

Posted on: November 13th, 2009

FRANKFURT (Reuters) - Liberty Global (LBTYA.O), the international cable operator controlled by U.S. cable pioneer John Malone, has agreed to buy Germany's Unitymedia from a private equity group for ...


Dan Primack

Not All Apollo Fees Were Created Equal

Posted on: October 29th, 2009

In 2007, CalPERS invested $600 million for around a 9% stake in Apollo Global Management. Per usual, it got help from then-unregistered placement agent ARVCO, which is run by former CalPERS board memb...


Dan Primack

Will Pay-to-Play Enter New Jersey Gov Race?

Posted on: October 26th, 2009

New Jersey does not have a long history of investing in private equity, making its first fund commitments just four years ago. But that doesn't mean that private equity won't become an issue in next ...


peHUB

Apollo Completes Parallel Petroleum Tender Offer

Posted on: October 25th, 2009

Apollo Global Management has completed its tender offer for all of the outstanding shares of common stock Midland, Texas-based Parallel Petroleum Corp. (Nasdaq: PLLL). The total deal is valued at app...


Dan Primack

Apollo Fund Performance Data

Posted on: October 23rd, 2009

Apollo Management recently sent investors information on fund performance, through the end of Q3 2009. It shows marked improvements, in large part because of rising public equity markets (Apollo marks...


Dan Primack

Apollo Management Goes Deeper Into Debt

Posted on: October 23rd, 2009

Apollo Management has spent much of 2009 recasting itself as a debt investor, and pounded home the point yesterday in a nine-page investor letter (as first reported by the WSJ). Signed by firm foun...


Erin Griffith

This Week in Debt Performance

Posted on: October 23rd, 2009

As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies from ratings agencies Standard & Poor’s Investors Ratings Services and Moody’s Investor Service. This ...


peHUB

CalPERS Reviewing Relationship with Apollo

Posted on: October 23rd, 2009

NEW YORK (Reuters) - Calpers, the biggest U.S. public pension fund, is reviewing its business relationship with Apollo Global Management, examining fees, performance and the "relationship as a whole,"...


peHUB

WSJ: Apollo Fund Values Recover in Q3

Posted on: October 23rd, 2009

NEW YORK, Oct 22 (Reuters) - Private-equity firm Apollo Global Management posted sharply improved investment performance across all of its funds Thursday, the Wall Street Journal reported citing a let...


Dan Primack

Apollo’s CalPERS Broker Was No Broker

Posted on: October 19th, 2009

It’s taken a while, but I finally have the opportunity to discuss what the meaning of “is” is. No, not in reference to that, but in reference to the questionable trinity of CalPERS, Alfred Villa...


peHUB

CalPERS Controversy Not The First for Apollo’s Black

Posted on: October 18th, 2009

NEW YORK (Reuters) - An investigation by California's giant public pension fund into fees paid by outside money managers is raising new questions about Leon Black's private equity firm Apollo Manageme...
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