Global buyout major Apollo has agreed to back part of the incumbent local exchange carrier business of Lumen Technologies for $7.5bn, including debt assumption of approximately $1.4bn. The deal valued the company at around 5.5x of its 2020 estimated adjusted EBITDA.
Strategic Value Partners has hit a final close on $5bn for Strategic Value Special Situations Fund V, well above its initial target of $4bn. The investment vehicle almost doubled the size of its predecessor Fund IV.
San Francisco-based venture capital firm Root Ventures is looking to raise $150m for its third fund, AltAssets has learned. If reaching the target, the fund will double the size of its predecessor Fund II.
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