Apollo taps veteran Citi banker Leat as consultant – Reuters

By Reuters News — 2 years ago

Chad Leat, a retired Citigroup Inc executive, is now working as a consultant for former client Apollo Global Management LLC, writes Reuters. Leat stepped down last year as chairman of Citigroup Inc’s alternative assets group and vice chairman of global banking. He now advises private equity and credit investment firm Apollo on a range of its investment activities, writes Reuters.

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Reuters – Best Buy Founder in Possible $11B Buyout

By Reuters News — 3 years ago

Reuters – Best Buy Co Inc founder Richard Schulze and at least four private equity firms have started examining the books of the world’s largest consumer electronics chain, early steps toward what could become a potential $11 billion buyout, according to people familiar with the matter.

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Reuters – NY Pension Invested in Controversial PE Vehicles

By Reuters News — 3 years ago

An investigation by New York’s top prosecutor into whether a group of private equity firms used a fee arrangement to dodge taxes may be undermined by the state’s own public pension fund, writes Reuters. New York Attorney General Eric Schneiderman in July subpoenaed more than a dozen private equity firms, including Apollo Global Management LLC, Bain Capital LLC, KKR & Co LP, Silver Lake Partners LP and TPG Capital LP, over their practice of converting management fees paid by investors into fund investments. Schneiderman’s office is investigating whether the practice, known as a “management fee waiver”, was exploited by private equity firms to reduce their taxes, writes Reuters.

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Deals Pick Up in Second Half of Q1, with Industrials Leading

By Bernard Vaughan — 4 years ago

There’s been some pretty grim data on global M&A released in recent weeks. Thomson Reuters, the publisher of peHUB, for example, reported on March 21 that buyside financial sponsor M&A was down 60 percent from the fourth quarter. But a more tailored look at control-stake acquisitions by U.S. sponsors of global targets (as opposed to […]

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99-Cents Only Shares Up on Report of Apollo Interest

4 years ago

Shares of 99-Cents Only Stores rose more than 8% Monday on news that Apollo Global Management was preparing to bid for the discount chain, Reuters reported. The news of a possible buyout was first reported by the New York Post. California-based 99-Cents Only Stores is currently valued at about $1.17 billion.

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Apollo Names Michael Ducey to Board

5 years ago

Apollo Global Management has named Michael Ducey to its board of directors, and also to the board’s audit and conflicts committee. Ducey was most recently with Compass Minerals International, where he served as president, chief executive and director. He retired from the company in May 2006. Earlier in his career, Ducey worked for nearly 30 years at Borden Chemical.

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Billionaire Steven Cohen Bidding for NY Mets Stake

5 years ago

Billionaire hedge fund manager Steven Cohen is bidding for a minority stake in the New York Mets baseball team, Reuters reported, citing a story in the Wall Street Journal. The team is attempting to raise roughly $200 million to cover losses and pay down debt, Reuters wrote. Other bidders for the stake include Marc Spilker, president of private-equity fund Apollo Global Management LLC.

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