What’s relevant is what you’re going to do with the business.” “This is getting much harder.”Īs George Roberts says of the leveraged buyout game, “There’s no art in it anymore. “Let’s not delude ourselves,” says John Skjervem, chief investment officer of the $100 billion Oregon State Treasury, a KKR investor since 1981. Since 2002 no KKR buyout fund has returned more than 2.4 times its money. Worse, the financial and operational maneuvers that buyout firms pioneered are now basic blocking and tackling for corporate CFOs. But today there are hundreds of private equity firms. KKR’s first five buyout funds, from 1976 to 1986, returned from 4 to 17 times their money. Fees have swelled with assets-to $1.8 billion at KKR in 2018 and $3.1 billion at Blackstone-but the existential question is how to beat the S&P 500 and justify them. At Apollo and Blackstone, funds push beyond $20 billion. buyout fund is expected to be a staggering $20 billion, its Asia fund $15 billion and its European $5 billion. ![]() KKR operates on a different scale today than it did when it took over RJR. In the past five years alone, $3.7 trillion has poured into private equity funds. It is now available at Apple Stores and other hardware vendors for $499 for a unit with a pair of 4-terabyte hard drives.It’s a transformation born of necessity. The Apollo Cloud 2 Duo hardware was released in August. We'll be testing it more, including the ability to set up to 20 unique users for the device, in the coming days. It is intended as an appliance after you set it up, set and forget, and isn't really intended to be a multi-purpose device with lots of options, like some of the mid- and high-end Synology products. Promise's Apollo Cloud 2 Duo has very few hurdles to jump given the guided iPhone setup. However, there is a barrier to entry to setup and configuration for most of the products that will provide that for users. Network attached storage isn't new, nor are network-accessible Time Capsule drives. For the tech savvy, it also has an easy mirroring procedure to another one across the internet, perhaps allowing for some easy backup solutions for people you get sucked into supporting, without turning to a subscription service like Backblaze. The Apollo Cloud app must be downloaded from the App Store to access the array at first - but after that installation and subsequent login, it pops up in the Finder's list of accessible drives, and the available Time Machine targets as well.Īs a network attached storage device that integrates very well with iOS devices, the Apollo Cloud 2 Duo does what it says on the tin with a bit of style. After that, it's ready to go on iOS, allowing for full Files integration with stored data on the device, as well as camera roll backup to it through the iOS app.Īccess on the Mac isn't quite as simple as logging into the device from the Finder, at least at first. ![]() ![]() It's then synchronized to the iOS app for setup using an account creation and QR code scan - and that's it. ![]() We were able to plug it in on the remotest corner of our wired network with no ill effect other than bombarding the entire length of the cable run on unmanaged switches when we wanted to move mass quantities of data around. Promise, and AppleInsider recommend hanging it directly off the router, which for most setups may be the only network switch available, but that's more for traffic localization and management. Plug it into power, plug an Ethernet cable into it - and it turns on.
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