Steve Bills
Firm: Apollo Global Management LP Fund: Apollo Credit Opportunity Fund III LP Target: $750 million Placement Agent: None Apollo Global Management LP has begun marketing its latest credit fund, with a $750 million target, according to a regulatory filing. The New York buyout mega-firm reported no sales yet for the vehicle, Apollo Credit Opportunity Fund […]
The Riverside Company has approached the midway point of its fundraising target for its sixth flagship buyout fund, a vehicle that is seeking as much as $1.5 billion, a source with knowledge of the Cleveland buyout shop’s activities told Buyouts.
With a stumbling economy under the threat of a “fiscal cliff,” market watchers toward year-end warned that 2013 could prove difficult for portfolio companies that are already burdened with a heavy load of debt.
CIT Group Inc. is on its way back as a leveraged lender to the middle market. The big question is whether the New York-based company can find traction in a lending environment that has been transformed since the financial crisis. CIT, long known as a financier to small and mid-size companies, was at the top […]
The collateralized loan obligation market has snapped back briskly, with a $620 million vehicle from The Carlyle Group capping a year when volume nearly quadrupled to roughly $50 billion in new CLO issuance.
Audax Group, the Boston firm whose two founders trace their roots to Bain Capital, announced that it has closed the fourth iteration of its flagship fund at its hard cap of $1.25 billion. The tally was 25 percent ahead of the $1 billion target for Audax Private Equity Fund IV.
Source of yield to yield-starved investors New deals only 11 percent of issuance in 2012 LBO-backed companies have higher survival rates Leveraged lending activity has picked up late in 2012, even though M&A has remained sluggish, according to industry statistics and market watchers. The reason: A sluggish economy has dampened interest in new deals, even […]
Buyout professionals, facing challenges to the traditional model of private equity, are increasingly open to alternatives, said John Ayer, a partner, at the Boston law firm Ropes & Gray LLP. The secondary market for limited partner commitments is becoming a regular aspect of industry activity, some sponsors are showing creative approaches for delivering liquidity to […]
More loan flex upward in pricing Still low by historical standards Cov-lite appears in the mid-market Term loan yields in the United States rose to 7.32 percent in November for mid-market borrowers, an indication that demand for such financing is finally catching up with the supply, according to sister service Thomson Reuters Loan Pricing Corp. […]
Energy Future Holdings Corp. has bought itself some time by swapping some debt, but the beleaguered utility likely will have more work to do if its private equity backers are ever to recoup their investment.