Category: Private Equity
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Apollo in the Bronx: Inside the $2.6 Billion Yankees Deal, and Why the Steinbrenners Kept the Keys
Marc Rowan’s firm put $2.6 billion of credit and equity into the parent of the most valuable franchise in American baseball. Al Tylis gets a board seat. Hal Steinbrenner keeps control. Private equity’s long courtship of sports has reached its most famous address.
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Private Equity Comes for the 401(k): Carlyle’s New Door, Apollo’s Daily Marks and Washington’s Safe Harbor
A Carlyle-SEI product aimed at retirement plans, Apollo’s decision to price its $850 billion credit book every day, and a Labor Department rule in progress add up to the industry’s biggest distribution push in a generation. The arguments on both sides deserve a hearing.
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KKR Buys the Back Office: Why a $5.1 Billion Fund Administrator Is the Most Revealing Deal of the Autumn
Gen II keeps the books for more than 275 private-markets managers with over $2 trillion in assets. KKR is paying $5.1 billion for it, from Hg and General Atlantic. The buyout industry is now buying the industry’s own plumbing.
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Blackstone’s Third Quarter: $63 Billion Walks In the Door, While the Exits Stay Narrow
Stephen Schwarzman’s firm took in more money than ever from wealthy individuals and institutions, and its buyout funds kept climbing. What it could not do, yet, was sell enough. Distributable earnings fell 9 percent.
