Welcome to our dedicated page for Apollo Global Mgmt news (Ticker: APO), a resource for investors and traders seeking the latest updates and insights on Apollo Global Mgmt stock.
Apollo Global Management, Inc. (NYSE: APO) appears frequently in financial and corporate news as a high-growth, global alternative asset manager active across credit, private equity and retirement services. Company communications describe an asset management business that seeks to provide clients excess return along the risk-reward spectrum, and a retirement services business operated through Athene Holding Ltd. that focuses on retirement savings products and institutional solutions.
News about Apollo often highlights capital solutions and transactions led by Apollo-managed funds and affiliates. Recent announcements include a multibillion-dollar capital solution for Valor Compute Infrastructure L.P. to support the acquisition and lease of data center compute infrastructure for a subsidiary of xAI Corp, as well as strategic financing for Russell Investments to refinance existing debt and extend maturities. Apollo funds have also agreed to acquire a majority stake in Prosol Group, a French fresh food retailer, and have made significant preferred equity commitments to QXO, Inc. to support acquisition strategies.
Other coverage shows Apollo’s ecosystem in action, including Stream Data Centers, a key operating platform within the Apollo ecosystem focused on wholesale data center colocation and build-to-suit facilities, and MidCap Financial, which is described as Apollo’s primary direct origination platform in the private middle market. Apollo-affiliated capital has also been involved in sports-related investments, such as a minority investment in Wrexham AFC through Apollo Sports Capital.
Investors following APO news can expect updates on capital deployments by Apollo-managed funds, financing and acquisition agreements, ratings actions referencing Apollo’s platform, preliminary performance metrics such as alternative net investment income disclosed via Form 8-K, and developments involving key platforms like Athene, MidCap Financial and Stream Data Centers. This mix of transaction announcements, financing structures and segment-related disclosures provides insight into how Apollo deploys capital and manages its alternative asset and retirement services businesses over time.
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.
Apollo (NYSE: APO) has announced that it will release its financial results for the third quarter of 2024 on Tuesday, November 5, 2024, before the opening of trading on the New York Stock Exchange. The company's management will conduct a review of the financial results at 8:30 am ET via a public webcast accessible on Apollo's Investor Relations website at ir.apollo.com. A replay of the webcast will be available one hour after the event.
Apollo distributes its earnings releases through its website and email lists. Interested parties can sign up to receive firm updates by email on the company's website.
SCI Capital Partners LP has closed a $1.6 billion structured continuation vehicle transaction with Apollo Funds (NYSE: APO) to support the growth of Morton Salt and Reddy Ice. SCI will maintain control of both companies while benefiting from Apollo's strategic support and expertise. The transaction includes participation from new institutional investors, with SCI legacy investors and company management teams remaining significant investors.
Morton Salt is the largest pure-play salt company globally, while Reddy Ice is the largest packaged ice manufacturer in the United States. Reddy Ice recently made its first international acquisition of Aguafría, the largest ice manufacturer in Mexico. The partnership aims to execute long-term strategic operating plans and pursue organic and inorganic value creation initiatives for both companies.
Barnes Group Inc. (NYSE: B) has announced an agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) in an all-cash transaction valued at approximately $3.6 billion. Barnes shareholders will receive $47.50 per share in cash, representing a premium of about 22% over Barnes' undisturbed closing share price on June 25, 2024.
The transaction, expected to close before the end of Q1 2025, is subject to approval by Barnes shareholders and regulatory approvals. Upon completion, Barnes will become a privately held company but continue to operate under the Barnes Group name and brand. The Barnes Board of Directors unanimously approved the agreement and recommends shareholders vote in favor.
As a result of this pending transaction, Barnes has suspended its financial guidance for the full year 2024 and will not conduct its third quarter 2024 conference call and webcast.
Apollo Global Management (NYSE: APO) has priced an offering of $500 million in 6.000% Fixed-Rate Resettable Junior Subordinated Notes due 2054. The notes will bear interest at 6.000% per year until December 15, 2034, after which the rate will reset based on the five-year U.S. Treasury rate plus a 2.168% spread. Interest payments will be semi-annual, starting June 15, 2025.
The offering is expected to close on October 10, 2024, with net proceeds of approximately $495 million. Apollo plans to use the proceeds for general corporate purposes, including redeeming $300 million of Apollo Management Holdings' 4.950% Fixed-Rate Resettable Subordinated Notes due 2050. The offering is being made through a shelf registration statement filed with the SEC, with J.P. Morgan Securities, BofA Securities, Citigroup Global Markets, and Goldman Sachs & Co. as joint book-running managers.
Mosaicx, a conversational AI pioneer, has partnered with Vibrant Emotional Health to enhance the 988 Suicide & Crisis Lifeline with new georouting capabilities. This technology allows for more accurate location-based connectivity, improving crisis care accessibility. The georouting solution identifies the county from which a call originates, connecting help seekers to geographically appropriate crisis call centers while protecting their privacy.
Rebecca Jones, president of Mosaicx, emphasized the importance of this functionality in connecting help seekers to localized support. Grant Riewe, CTO of Vibrant, praised Mosaicx as a trusted partner available 24/7, 365 days a year. The collaboration aims to revolutionize telephony in the United States to provide better access to crisis mental health care.
Apollo (NYSE: APO) has announced a new agreement to provide approximately €1 billion to acquire a minority stake in one of Vonovia's affiliates. This marks the third transaction between Apollo and Vonovia, following two previous €1 billion deals in 2023 related to Vonovia's real estate portfolios in Southwest and Northern Germany. The total arranged commitments from Apollo affiliates and funds to Vonovia entities now reach €3 billion.
This transaction is part of Apollo's High Grade Capital Solutions strategy, which has originated nearly $100 billion of bespoke capital solutions for leading companies since 2020. Apollo emphasizes its ability to provide scaled solutions to large corporations and retirement services companies, leveraging its structuring, investment, and syndication capabilities.
Apollo (NYSE: APO) is hosting its Investor Day to present the firm's business priorities and new five-year financial targets. The senior management team will discuss the future of alternative asset management, Apollo's strategic positioning, and its plan to generate attractive returns for stockholders.
CEO Marc Rowan emphasized Apollo's focus on asset origination, highlighting the firm's unique position with its expansive credit franchise and retirement services leader, Athene. Rowan noted that the industry is supported by powerful tailwinds for robust growth over the next five years.
The Investor Day presentation materials and livestream registration are available on investorday.apollo.com. The event begins at 8:00 a.m. ET, followed by a Q&A session, with a replay available on the Investor Relations website afterward.
Citigroup Inc. (NYSE: C) and Apollo (NYSE: APO) have announced a landmark $25 billion private credit, direct lending program in North America, with potential for global expansion. The program includes participation from Mubadala Investment Company as Apollo's strategic partner and Apollo's subsidiary, Athene. This strategic initiative aims to enhance access to private lending capital for corporate and sponsor clients, combining Citi's banking expertise with Apollo's extensive capital base.
The program is expected to finance approximately $25 billion of debt opportunities over the next several years, covering both corporate and financial sponsor transactions. Citi and Apollo anticipate strong client demand and maintain flexibility to expand the program's size beyond the initial $25 billion. This collaboration is designed to provide clients with a range of innovative, private financing solutions to meet their evolving needs and strategic goals.
Gannett Co., Inc. (NYSE: GCI) has announced an exchange offer and consent solicitation for its outstanding 6.000% Senior Secured Notes due 2026. Eligible holders can exchange their notes for either first lien term loans with a 1.5% upfront fee or cash. The exchange offer includes an early participation premium for holders who tender their notes by October 10, 2024.
This exchange offer is part of Gannett's broader debt refinancing strategy, which includes a new $900 million senior secured credit facility with Apollo Funds. The company also plans to repurchase up to 50% of its outstanding 6.000% Senior Secured Convertible Notes due 2027 and exchange another 50% for new notes due 2031.
The refinancing aims to restructure Gannett's debt and improve its financial position. The company describes itself as a diversified media company with a focus on empowering local communities through its portfolio of trusted media brands, including USA TODAY NETWORK and Newsquest.
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