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GFL Environmental has closed its $800 million buy of solid waste business Matrec Services, the company’s largest acquisition to date. It is also this year’s first large-cap Canadian private equity deal, thanks to an international group of investors that accounted for a major share of the purchase price.
Leon Black, Apollo Global Management, PlayAGS, gambling, private equity, IPO
Leon Black calls current environment a new down cycle Syndicated loans for buyouts face fear, anxiety Firm holds $26 bln in dry powder Apollo Global Management founder and CEO Leon Black famously said in 2014 the firm was selling everything that wasn’t nailed down. Now Apollo has flipped its strategy to invest more than it’s […]
Apollo Global Management, private equity, Leon Black, Josh Harris, Marc Rowan
Ares’s Bennett Rosenthal, Apollo’s Josh Harris bullish on distressed debt Markets “ready and expecting some sort of downturn,” says Rosenthal “Our flow of distressed-for-control investments has increased,” says Harris Ares Management and Apollo Global Management expect to deploy their new private equity funds in distressed for control deals, a departure from the traditional buyouts that […]
Long joins from Oak Hill BDC Previously led Bank of America spinout Conversus Will help Star Mountain institutionalize its platform   Star Mountain Capital appointed former Conversus Capital CEO Bob Long as its president, the firm told Buyouts. “We’ve known Bob now for a few years, and have been spending time getting to know each […]
Coller Capital, citing “compelling personal reasons,” confirmed Friday that Tim Jones has stepped down as CEO of the firm. Jones has begun winding down his responsibilities, Coller said in the statement. He will retain non-executive involvement with Coller and is currently listed as a special adviser on the Coller website. London-based Coller Capital did not […]
Sherlock Holmes, private eye, detective, sleuth, sherlock shutterstock_110867483
About a year ago I wrote in this column that cracks were starting to appear in the credit markets used to finance leveraged buyouts. Those early cracks, after a reasonably steady start to 2015, have since widened into fractures. Behind those fractures lies a growing wedge of fears. Among the biggest is that a slowing world economy will leave many […]
Tony James, Blackstone Group
Toughest quarter for credit strategies since 2011 President Tony James cites market turmoil Energy sector facing defaults Blackstone Group blamed dislocations in high-yield debt for a quarterly loss in all three of its major credit strategies for the first time since 2011, but said market conditions appear to be leveling off. Overall, the largest private equity […]
Photo of Steve Rattner, managing principal of private equity firm Quadrangle
Quadrangle reaches agreement with Fund II LPs on extension Fund II extended on same economic terms Former execs help incentivize remaining GPs The Quadrangle Group went to market last year to consider various options for its aging second fund, which was set to expire at the end of 2015. With all the liquidity tools on […]
Dov Charney, the founder and former CEO of American Apparel, said he was “disappointed” by a decision from a U.S. Bankruptcy judge that rejected his bid to buy back the company he founded. Charney, in a January 25 statement, said he believed the path followed by American Apparel’s management “is a road to ruin.” “I […]
Adams Street launches private credit platform Hires two former Oaktree mezzanine executives Not clear if group will raise an external fund Adams Street Partners has hired two former Oaktree Capital Management executives to set up a private credit unit to take advantage of the “secular trend” of banks retreating from mid-market lending. Adams Street, based in […]
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