Skip to main content

As an art collector, Leon Black’s taste is hardly to be quibbled with. He’s got a Van Gogh and a Raphael drawing, an exquisite Picasso sculpture and “The Scream.” As an investor—and an incredibly successful one, at that—well, let’s say his mores are, uh, a bit more eclectic. Dated, even. His private equity firm, Apollo Global Management, used to own Graceland, for instance. It has invested in enough cruise lines to fill a fairly impressive, and luxurious, navy. It owns Twinkies. And then there are Black’s, let’s say nostalgic investments, things whose glory days are long past, and perhaps not coming back. Like, for instance, that chain of indoor Midwestern waterparks he owned for a few years. The recently-bankrupt mall staple Claire’s. Chuck E. Cheese’s. Jacuzzi. And now, straight out of 2007, a couple of online-photo services.

The deal for Shutterfly values the photo-book manufacturer and retailer at $51 a share, or about $1.7 billion, the companies said Monday. The purchase of Snapfish, which like parent District Photo Inc. is closely held, would be contingent on the Shutterfly acquisition closing. District Photo would end up with a substantial minority stake in the combined company…. The industry has become challenged as online-photo services have become ubiquitous. Shutterfly stock was down sharply late last year before rebounding on hopes of a sale. The shares closed up 2.7% at $50.25 Monday, before the deal was confirmed.

Apollo to Buy Shutterfly, Snapfish [WSJ]


Screen Shot 2019-07-08 at 12.11.30 PM

Leon Black Has Regrets

Like having to send this regretful letter to clients, assuring that he never lied to them about Jeffrey Epstein.

Screen Shot 2019-07-08 at 12.11.30 PM

Leon Black, Jeffrey Epstein Have More In Common Than An Interest In Tax Efficiency

Now, they share an experience of legal trouble around their exploits.

Screen Shot 2019-07-08 at 12.11.30 PM

Leon Black Just One Of Many Illustrious People To Ignore Jeff Epstein’s Sex Criminal Past

It could have happened to any political leader or captain of industry, if you think about it.