Apollo Global Mgmt Inc Stock Price, News & Analysis

Apollo (NYSE: APO) has expanded its Asia Pacific presence by opening a new office in Seoul and appointing Jay Hyun Lee as Partner and Head of Korea. Lee, bringing 25 years of financial services experience, will drive Apollo's capital formation strategy and institutional relationships in Korea. The firm has been operating in Asia Pacific for over 15 years, with offices across Tokyo, Sydney, Hong Kong, Mumbai, and Singapore since 2006. Additionally, Dr. Sam Young Chung from Yonsei University has been appointed as Academic Advisor to focus on retirement solutions and alternative assets.

Everi Holdings (NYSE: EVRI) announced that its stockholders have overwhelmingly approved the company's acquisition by Apollo Global Management funds. The deal, which includes the simultaneous acquisition of IGT's Gaming & Digital business, received 99.88% approval from voting shares, representing 71.48% of total outstanding shares. Stockholders will receive $14.25 per share in cash. The transaction is expected to close by the end of Q3 2025, subject to closing conditions.

Vega has raised $20 million in a Series A funding round led by Apollo and Motive to scale its technology platform, Vega AltOS. This follows an $8 million seed investment from Motive, Picus Capital, and Citi Ventures. Apollo, now an enterprise-scale anchor client, will use Vega AltOS for its institutional, family office, and global wealth channels. Additionally, Apollo will integrate Edna, an alternative employee investment platform with over $2 billion AUM, into Vega. Vega aims to revolutionize client service for alternative asset managers by providing a scalable, digitally-enabled platform for pre-trade, execution, and post-trade operations. The new funding and partnership with Apollo signify a major milestone in Vega's growth, aiming to standardize private markets client service infrastructure and drive industry-wide growth.

Cardinal Health (NYSE: CAH) announced two strategic acquisitions: a 71% stake in GI Alliance (GIA) for $2.8 billion and Advanced Diabetes Supply Group (ADSG) for $1.1 billion. GIA, the leading gastroenterology management services organization with over 900 physicians across 345 locations, will operate within Cardinal's Pharmaceutical and Specialty Solutions segment. ADSG, serving approximately 500,000 diabetes patients annually, will merge with Cardinal's at-Home Solutions business. Both acquisitions are expected to close in early 2025 and be accretive to revenue, segment profit growth, and non-GAAP EPS in the first 12 months post-closing.

Apollo (NYSE: APO) and Mubadala Investment Company have extended their multi-billion-dollar partnership focused on global origination opportunities. The extension strengthens Apollo's Capital Solutions business and origination capabilities across asset classes while providing Mubadala access to investment opportunities. Apollo announced a new target of reaching $275 billion of annual origination volumes in the next five years. The partnership builds on previous collaborations, including a $2.5 billion joint venture for global private credit opportunities and Mubadala's support in launching Apollo's middle market lending vehicle.

Apollo Global Management (NYSE: APO) has released its Q3 2024 financial results, highlighting strong performance across its platform. The company declared a cash dividend of $0.4625 per share of Common Stock, payable on November 29, 2024, and a $0.8438 per share dividend for Mandatory Convertible Preferred Stock, payable on January 31, 2025. CEO Marc Rowan emphasized the company's position as a next-generation financial services business and referenced growth plans presented at their recent Investor Day.

Concord has successfully closed an $850 million asset-backed securitization (ABS) backed by its music catalog, marking its third securitization offering. The notes are secured by royalties from a catalog of over one million songs, including works by renowned artists like The Beatles, Carrie Underwood, and The Rolling Stones. The catalog is valued at more than $5 billion, resulting in a 52% loan-to-value ratio. Apollo (NYSE: APO), through its Capital Solutions business, structured the ABS and led the investor syndicate. The notes received ratings of A+ from KBRA and A2 from Moody's. Proceeds will be used to retire the private 2023-1 note issuance, fund acquisitions, and support growth.

Barnes Group Inc. (NYSE: B) reported third quarter 2024 financial results with sales of $388 million, up 7% year-over-year with organic growth of 4%. The company posted a net loss of $2.1 million, or -$0.04 per share, while adjusted EPS was $0.09. Notable highlights include strong Aerospace performance with a 49% increase in segment sales to $232 million and a significant OEM backlog of $1.80 billion. The company recently announced its pending acquisition by Apollo Funds for $47.50 per share in cash, valuing Barnes at approximately $3.6 billion enterprise value.

CX360, Inc. (Mosaicx), a conversational AI pioneer, supports the FCC's decision to require georouting for wireless calls to the 988 Suicide & Crisis Lifeline. This regulation enables localized care while maintaining the Lifeline's centralized routing system. Mosaicx provides the intelligent routing technology that supports both georouting and routing of calls, ensuring specialized crisis care for diverse communities.

Rebecca Jones, president of Mosaicx, expressed gratitude for the FCC's decision, emphasizing its commitment to quickly implementing georouting benefits for help seekers. Mosaicx's partnership with Vibrant Emotional Health, the 988 Lifeline network administrator, continues to advance the accessibility and efficiency of this vital resource.