Apollo Mulls $750 Million First Boston Leveraged-Finance Bet
- Alternative asset manager may become major backer of spinoff
- Credit Suisse is carving out parts of its investment bank
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Apollo Global Management Inc. is in talks to inject $750 million to support the leveraged-finance business of Credit Suisse Group AG’s investment-banking spinoff First Boston, potentially making it one of the biggest backers of the Swiss lender’s revamp.
The New York-based alternative asset manager’s commitment may be matched by the Zurich-based bank, giving the unit roughly $1.5 billion in capital, said the people, who requested anonymity as the information is private. That could be leveraged to create about $7.5 billion in lending capacity for B rated borrowers, one of the people said.