Thoughts on Apollo / Lumileds ?
Seems fairly out of character for Apollo, feel like they would usually be on the other side of a bankruptcy case. But I also have no real idea and want to learn more.
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Bankruptcy is a feature, not a bug.
Not out of character at all - check out the Caesar’s Palace Coup for Apollo specific background. Very interesting book, honestly worth a couple reads because you miss things - debt is a game of chess
Re: if you really want to screw with your mind, Riverbed (formerly TB backed) restructured this last year on positive bookings growth… I thought bankruptcy was for dying companies many might say
https://www.businesswire.com/news/home/20211013005433/en/Riverbed-Annou…
I can’t remember if this is the right Apollo asset amongst there assets circling the gutter that I’ve looked at historically but I’m pretty sure they have over a 1.6x or so on this asset already from hyper aggressive div. recaps.
Someone closer to asset can confirm.
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