Christopher Witkowsky

The Apollo Global Management and TPG-backed casino operator has struggled in the faltering economy with dwindling revenue and heavy debt loads. The company is seeking to restructure its debt to extend maturities and reduce its outstanding principal.

Trouble in the retail sector presents opportunity, with 'some of the greatest fortunes' due to be made by savvy investors over the next year, according to John Howard, CEO of Irving Place Capital, formerly Bear Stearns Merchant Banking.

A panel of private equity insiders, including DLJ Merchant Banking chair Nicole Arnaboldi and Carlyle's Jonathan Colby, agreed the buyout industry is in for more pain but sees US deal activity regaining momentum sometime next year.

KKR's publicly listed debt affiliate made $49m in third quarter profits but will suspend its dividend to preserve liquidity.

Oklahoma-based Laredo, seeded by Warburg last year, has used equity financing from the New York-based firm to make acquisitions and continue drilling in the ‘mid-continent’ region of the US.

The consolidation of CAM Private Equity and VCM Capital Management will create a single fund manager committing capital to venture, growth capital, buyout, mezzanine, distressed debt and infrastructure funds.

The Texas-based western-style clothing retailer, backed by Sage Capital and Luther King Capital, has sold 22 stores to Marwit Capital on its way to total liquidation. BTWW is one of 35 private-equity backed companies that have crashed into bankruptcy in 2008.

Buyers of secondary fund interests are worried about pricing drops, while sellers are concerned MAC clauses could cause deals to fall through, writes Christopher Witkowsky.

The Swiss fund of funds investor, which is not a subsidiary to insurance giant AIG, has sold stakes in Avista and Sun Capital at a discount of nearly $7m.

The Massachusetts- and Connecticut-based firm will hold a 12% stake in National Investment Managers, which buys companies with stable cash flows and high operating margins.