When TPG Capital sold Alltel, the US mobile phone operator, to Verizon for $28bn in June, they not only profited from the shares it owned but also from Alltel's debt it owned.
Public pension funds increase investments in hedge funds (Fund News)
Public pension funds in the U.S. are increasing their investments in hedge funds and real estate in an attempt to fill deficits in retirement plans and make up for their worst performance in six years.
Apollo faces questions over Dutch fund (Fund News)
Apollo Global Management, the US private equity group, will face questions from investors about the future of its poorly performing Amsterdam-listed fund.