Apollo Global Mgmt Inc Stock Price, News & Analysis

IHI Power Services Corp. (IPSC) has secured asset management contracts with Doral Renewables for two significant renewable energy projects: the Mammoth North Solar Project in Starke County, Indiana, and the Great Bend Solar Project in Meigs County, Ohio. Mammoth North, a 400 MW facility, is the first phase of the $1.5 billion Mammoth Solar Project, expected to be operational in Q3 2024. The Mammoth Solar Project will ultimately generate 1.3 GW, supporting 275,000 homes. Great Bend, a 48 MW plant, will begin construction this year and is slated to be operational by the end of 2025, contributing $400,000 in annual tax revenue and bolstering local economies.

Doral is developing over 13 GW of renewable projects nationwide, with $2.5 billion in long-term power purchase agreements. IPSC's asset management expertise aligns with Doral's sustainability goals, making this partnership vital for optimizing renewable assets and promoting sustainable communities.

Apollo (NYSE: APO) will release its financial results for the second quarter of 2024 on August 1, 2024, before the NYSE trading starts. Management will discuss the results during a public webcast at 8:30 am ET, accessible via Apollo’s Investor Relations website. A replay will be available one hour post-event. Apollo disseminates its earnings releases through its website and email lists. Interested parties can subscribe for email updates.

Apollo (NYSE: APO) released its Annual Sustainability Report: Volume 15, titled “Driving a More Sustainable Future,” on June 24, 2024. Highlights include the deployment, commitment, or arrangement of $10 billion towards clean energy and climate investments in 2023, aiming toward a $50 billion target by 2027. Additionally, Apollo committed $5.2 million in grants to 22 organizations through the Apollo Opportunity Foundation, an increase from $3 million last year. The report outlines Apollo's sustainability strategy and progress, with insights from Scott Kleinman, Co-President, and Dave Stangis, Chief Sustainability Officer, emphasizing Apollo's dedication to sustainability, decarbonization, and providing flexible capital solutions. The report also includes voluntary disclosures guided by SASB, GRI, UN SDGs, and TCFD recommendations.

Intel and Apollo have entered into a $11 billion joint venture for Intel's Fab 34 in Ireland. Apollo will acquire a 49% equity stake, while Intel retains 51% control. This is Intel's second SCIP arrangement, enhancing financial flexibility and supporting global manufacturing strategy. Fab 34, a state-of-the-art facility, began manufacturing processors in September 2023. The deal, expected to close by Q2 2024, allows Intel to redeploy capital and maintain its credit rating. Intel will continue to manage Fab 34 and fulfill wafer production commitments for itself and foundry customers.

Pershing Square Capital Management (PSCM) has announced the sale of a 10% common equity interest in Pershing Square Holdco, a new partnership owning 100% of PSCM, for $1.05 billion to strategic investors including Arch Capital Group (ACGL). This sale involves an internal reorganization of PSCM's ownership structure, resulting in a deemed assignment under the Investment Advisers Act of 1940. The reorganization has been approved by the Pershing Square Holdings (PSH) board, ensuring no changes to PSCM's management team or its investment management role. Furthermore, an independent Board of Directors has been established. Bill Ackman remains the largest shareholder of the controlling The transaction aims to accelerate growth in assets under management and maintain high long-term returns for investors.

Pershing Square Capital Management announced the sale of a 10% common equity interest in Pershing Square Holdco for $1.05 billion to a group of strategic investors, including Arch Capital Group (NASDAQ: ACGL). This strategic investment aims to accelerate Pershing Square's growth in assets under management.

Additionally, Pershing Square has established an independent Board of Directors and reorganized its ownership structure. This reorganization includes the creation of a liability company controlled by senior management. The transaction will not affect Pershing Square’s investment management services.

Bill Ackman, Pershing Square's founder and CEO, expressed enthusiasm about the new investors and the growth opportunities they bring. Key appointments following the transaction include Ben Hakim as President and Nick Botta as Vice Chairman.

Apollo and Athene Holding announced that Grant Kvalheim, President of Athene, will present at the TD Financial Services & Fintech Summit on June 7, 2024, at 8:35 am ET.

The event will be webcast live on Apollo and Athene's Investor Relations websites, with a replay available shortly after.

Apollo Global Management, Inc. (NYSE: APO) announced the pricing of a $750 million offering of 5.800% Senior Notes due 2054. These notes, guaranteed by multiple Apollo entities, are expected to close on May 21, 2024, subject to customary conditions.

The net proceeds from the offering will be approximately $743.4 million, intended for general corporate purposes. The interest rate for the notes is 5.800% per annum, payable semi-annually starting November 21, 2024.

The offering is managed by BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., and Morgan Stanley & Co. as joint book-running managers, and several other financial institutions as co-managers. The offering is being made under an effective shelf registration statement filed with the SEC.

Apollo Global Management announced an offering of senior notes, contingent upon market conditions. The notes will be guaranteed by multiple Apollo entities, including Apollo Asset Management and various Apollo Principal Holdings. The proceeds will be used for general corporate purposes. Joint book-running managers include BofA Securities, Barclays Capital, Citigroup Global Markets, and Morgan Stanley. The offering is made under an effective shelf registration statement with the SEC, and the prospectus and preliminary prospectus supplement can be accessed through the SEC's website or directly from the managers. This announcement is not an offer to sell or solicit purchases of the notes or other securities.