Federal Reserve Chairman Janet Yellen said last week that clarification on how the Volcker Rule treats collateralized loan obligations would be coming “reasonably soon.” Managers of the funds that package junk- rated buyout loans aren’t waiting to find out.
The Volcker Rule, aimed at making the financial system safer, is already prompting changes in the high-risk corporate loans market even as regulators spar over how to implement the measure without stunting economic growth.
Hypo Real Estate Holding AG, the German lender that received a government bailout, drew offers of as much as 350 million euros ($472 million) for Dublin-based Depfa Bank Plc, two people familiar with the matter said.
Apollo Global Management LLC, the private-equity firm run by Leon Black, received approval from investors to increase the limit on its next buyout fund to $17.5 billion from $15 billion, two people with knowledge of the matter said.
Apollo Global Management LLC, the private-equity firm run by Leon Black, got approval from investors to raise the limit on its buyout fund to $17.5 billion from $15 billion, according to two people familiar with the matter.
Bill Ackman’s hedge fund-firm took stakes in Fannie Mae and Freddie Mac, the government-owned mortgage insurers that investor Bruce Berkowitz is seeking to restructure, and said it may seek talks with management, shareholders and the government.