Private-Equity Firms Active In Less-Splashy Deals

April 29 - CNN Money - Apollo Advisors has invested $4 billion of equity since last October but the leveraged buyout climate won't return to a semblance of normality until sellers of companies lower their prices to reflect economic reality, Apollo's founding partner said Tuesday.

"Credit has to work its way through the system and prices have to come down," said Leon Black at a panel on the state of the private-equity industry at a conference in Beverly Hills sponsored by the Milken conference.

Banks are beginning to clear up their backlog of past leveraged buyout loans and are slowly beginning to lend for middle-sized deals but asking prices have barely budged, he and others on the panel said. Read More.