Deals

Apollo's biggest sports investment is a $2.6 billion loan to the Yankees.

The Yankees raised $2.6 billion from Apollo without selling control, four months before baseball's expected lockout. The press release calls it a partnership. The proceeds line calls it a refinancing.

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Every year you sit on committed capital, your IRR math gets worse.

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Every partner went to the same five schools and worked at the same three banks.

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Increasingly, the most honest question in private equity.

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The AI discussion in most PE board meetings follows the same script.

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Same disruption. Four very different panic responses.

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The biggest risk in private equity isn't leverage. It's believing the story you wanted to hear.

News

News (w/e 8/1/26)

Deals

Deals (w/e 8/1/26)

Blackstone, Brookfield and KKR sign a $16bn lease on Kuwait's oil pipelines. The consortium takes 49% of a joint venture leasing the usage rights to all 13 of Kuwait Oil Company's pipelines for 20.5 years, in exchange for a volume-based tariff. Kuwait keeps 51%

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IMAX spent its first 40 years showing museum documentaries.

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If I were hiring an operating partner tomorrow, the first question would not be about experience.

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Accenture gets mocked because it looks less glamorous than McKinsey, Bain and BCG.