Apollo Management reportedly raises $15bn!

[Harriet]

Unbelievable, given the performance of its previous funds. Anyone remember Linens n'' Things? http://blogs.wsj.com/deals/2009/01/23/apollo-closes-buyout-fund-near-15-billion-target/

 

[Harriet]

C'mon people. Big bad private equity shop messes up and still manages to raise funds. Crazy. Tradergirl, where are you? I'll bet I agree with you on this one.

 

[strmrdr]

Some people have more money than brains.....

 

[purrfectpear]

I''m glad MY retirement isn''t in any funds

 

[Harriet]

I haven''t heard any confirmation yet. I hope the report''s false.

 

[tradergirl]

Try this one:

http://zerohedge.blogspot.com/2009/01/fortress-investment-group-on-edge-of.html

one of my all time best short sales, along with Blackstone

and this

http://zerohedge.blogspot.com/2009/01/private-equity-firms-about-to-get-in.html

wonder if that will be used to pay for 22,000 square foot houses?

 

[Harriet]

We should have joined you in shorting those two.

 

[tradergirl]

Oh, I think you'll get another chance this spring or summer. The Generational Theft Act of 2009 (aka "Porkulus") will get a rally going once it clears the Senate (with hopefully no more than 1-2 Republican votes).

here's more on Apollo with snide comments at the end

http://zerohedge.blogspot.com/2009/01/apollo-raising-money-as-its-recent.html

 

[Harriet]

I can''t find the comments.

 

[tradergirl]

I guess they took them off. Check this out. Nothing you and I don't already know but this is why I go off on people sometimes; i.e. the 9ct diamonds and 22K square foot houses. It's because I know how they get the money to do that. I actually risk my OWN money, not OPM (pension funds! mein gott!) to make the returns I get and assume all the risk myself.

http://clusterstock.alleyinsider.com/2009/1/why-kravis-schwarzman--co-are-billionaires-and-youre-not

 

[Harriet]

Check out Barron's too. Incidentally, will you be a dear and try not to go off on posters here? There are too many private details that we just don't know.

 

[Harriet]

We should also distinguish PE shops that specialise in LBOs and those that don''t.

 

[tradergirl]

Ouch!

http://clusterstock.alleyinsider.com/2009/2/private-equity-shares-trading-at-a-discount

 

[Dancing Fire]

Date: 1/30/2009 8:00:38 AM
Author: tradergirl
Oh, I think you''ll get another chance this spring or summer. The Generational Theft Act of 2009 (aka ''Porkulus'') will get a rally going once it clears the Senate (with hopefully no more than 1-2 Republican votes).

here''s more on Apollo with snide comments at the end

http://zerohedge.blogspot.com/2009/01/apollo-raising-money-as-its-recent.html

methink the market will trade near todays level for the next two yrs.

 

[tradergirl]

Uh oh. Any private equity CEO you know suddenly gone on an extended vacation?

http://dealbook.blogs.nytimes.com/2009/02/06/ex-madam-says-some-wall-st-clients-billed-their-firms/

 

[Harriet]

Uh oh indeed.