Four top executives of Fortress Investment Group LLC, the first publicly traded private-equity and hedge-fund manager in the U.S., will sell 25.7 million Fortress shares and operating units, about 10 percent of their interest, in an underwritten public stock sale.
Leveraged-buyout firms led by billionaire Leon Black’s Apollo Global Management LLC, seeing fewer bargains in acquiring companies, are loading up on high- risk debt being abandoned by the world’s biggest banks.
Bill and Hillary Clinton stopped by the Sagaponack General Store yesterday as Eric Schmidt, executive chairman of Google Inc., settled into brunch at CittaNuova in East Hampton, paging through real-estate ads over eggs.
National Basketball Association owners unanimously approved the sale of the Philadelphia 76ers to a group led by Apollo Global Management LLC co-founder Joshua Harris and David Blitzer, who moved to London from New York in 2002 to create the European office of Blackstone Group LP.
Apollo Global Management LLC, which has raised $3.9 billion to buy distressed European assets, is hunting for hotels and resorts in Spain as tourists from across Europe help pull the country out of a two-year recession.