Apollo taps veteran Citi banker Leat as consultant – Reuters

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.


Ares Management prepares to file for IPO – sources: Reuters

Ares Management LLC, the credit investment and private equity firm that has been pitched on the idea of an initial public offering for more than a year, is finally close to registering to go public, two people familiar with the matter told sister news service Reuters.


Apollo Global to swallow Chuck E Cheese – Reuters

Jan 16 (Reuters) – Apollo Global Management LLC said it will buy CEC Entertainment Inc, the parent of Chuck E Cheese restaurant chain, for about $948 million, adding to a portfolio that includes companies ranging from cruise ship operators to casinos.


CalPERS Taps Carlyle For Biggest Pledge Of 2013

The $265 billion California Public Employees’ Retirement System, the largest pension in the United States, approved its biggest private equity commitment so far in 2013, pledging $547 million to The Carlyle Group’s newest flagship fund, Carlyle Partners VI LP, according to board meeting materials made public by CalPERS. A CalPERS spokesman declined to comment further.

Reuters – Best Buy Founder in Possible $11B Buyout

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.

Reuters – NY Pension Invested in Controversial PE Vehicles

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.

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

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 […]

99-Cents Only Shares Up on Report of Apollo Interest

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.

Apollo Names Michael Ducey to Board

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.


Billionaire Steven Cohen Bidding for NY Mets Stake

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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