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. reports news tied to its alternative asset management and retirement services businesses. Updates commonly cover operating results, dividends on common and preferred stock, assets under management, investment origination, and activity at Athene, its retirement-services subsidiary.
Company news also includes fund formation and capital raising across Apollo strategies, including hybrid value, structured equity, dislocated liquid credit, private equity, credit, and real assets. Announcements may describe investment activity across funds managed by Apollo, portfolio-company developments, governance, material agreements, and capital-structure matters.
Barnes Group (NYSE: B) has completed its previously announced acquisition by Apollo Funds in an all-cash transaction with a total enterprise value of approximately $3.6 billion. Under the terms of the agreement, Barnes shareholders will receive $47.50 per share in cash.
The transaction, announced on October 7, 2024, and approved by Barnes shareholders on January 9, 2025, marks a significant milestone for the global provider of engineered products and industrial technologies. Following the completion, Barnes' common stock has ceased trading and will be delisted from the NYSE.
The acquisition aims to accelerate Barnes' transformation strategy, enhance capabilities, and broaden product offerings. Apollo sees significant potential in Barnes' aerospace and industrial sectors portfolio, particularly noting the company's positioning to benefit from robust aerospace demand trends.
Barings and Apollo (NYSE: APO) affiliates have jointly originated a $113 million debt package to refinance the Westin Indianapolis. The financing structure includes mezzanine and senior mortgage components, with Barings funding the mezzanine portion and Apollo affiliates handling the senior portion.
The Hotel, owned by KSL Capital Partners since 2019, underwent full renovations from 2020-2022. Located in downtown Indianapolis, it features 575 guestrooms, 48,300 square feet of event space, a new food & beverage outlet, and a renovated fitness center. The property benefits from direct connectivity to the Indianapolis Convention Center and proximity to key city attractions.
This transaction adds to Barings' $23.5+ billion real estate debt platform. Eastdil Secured served as the financing advisor for the sponsorship.
Apollo (NYSE: APO) announced key leadership changes aligned with its five-year strategic plan. Jim Zelter has been appointed as President of Apollo Global Management (AGM), while John Zito has been named Co-President of Apollo Asset Management (AAM) alongside Scott Kleinman.
CEO Marc Rowan will enter into a five-year employment agreement extension. In his new role, Zelter will work closely with Rowan to execute Apollo's five-year plan and lead strategic initiatives across asset management and retirement services businesses. Kleinman and Zito will oversee all investing activity and day-to-day management of the asset management business, with Zito continuing as Head of Credit.
The appointments reflect Apollo's evolution as a next-generation financial services firm and its focus on two major trends: the convergence of public and private markets, and the changing role of financial institutions.
Apollo (NYSE: APO) and Standard Chartered PLC have announced a strategic partnership to accelerate financing for infrastructure, clean transition, and renewable energy globally. The partnership includes a planned contribution of up to US$3 billion in clean energy and transition financing across various sectors.
Standard Chartered has acquired a minority stake in Apterra, an Apollo-owned platform focused on infrastructure debt origination. Apterra, founded in 2023, has already executed more than US$4.8 billion of transactions. Apollo's Clean Transition Capital strategy has deployed over US$40 billion into energy transition and climate-related investments over the past 5 years.
As part of the agreement, Standard Chartered will provide a senior secured credit facility to Apollo Clean Transition Capital (ACT Capital) for project finance and infrastructure loans. The financial terms of Standard Chartered's minority equity stake in Apterra were not disclosed.
Apollo (NYSE: APO) announced an agreement to acquire Argo Infrastructure Partners ("Argo"), a mid-market asset manager targeting essential infrastructure assets in North America, in a stock and cash transaction.
Upon closing, Argo will add approximately $6 billion of high-quality assets to Apollo's infrastructure platform, alongside an experienced team of over 20 professionals focused on core and core plus infrastructure equity opportunities.
Argo, established in 2013, has a successful track record in digital infrastructure, renewable energy, transportation, utilities, and other industries. This acquisition will broaden Apollo's Sustainability & Infrastructure strategies, enhancing its existing origination capabilities in key sectors like digital infrastructure and energy transition.
Harry Seekings and Olivia Wassenaar, Partners and Co-Heads of Infrastructure at Apollo, highlighted the complementary nature of Argo's capabilities to Apollo's value-add investment strategy. Jason Zibarras, Founding Partner of Argo, emphasized Apollo's global reach and commitment to long-term value creation.
Argo will join Apollo’s Sustainability & Infrastructure group upon closing, expected in the second quarter of 2025. The transaction is anticipated to be modestly accretive to fee-related earnings in 2026, pending customary closing conditions and regulatory approvals.
Barnes Group Inc. (NYSE: B) shareholders have overwhelmingly approved the company's acquisition by Apollo Global Management's funds at a Special Meeting of Shareholders. The transaction will see shareholders receive $47.50 per share in cash. The vote garnered approximately 99% approval from total shares voted, representing about 80% of Barnes' outstanding common stock.
The deal is expected to close before the end of Q1 2025, subject to regulatory approvals and customary closing conditions. CEO Thomas Hook expressed optimism about the partnership with Apollo, highlighting plans to accelerate transformation strategy, enhance capabilities, and increase innovation investment to better serve customers in aerospace and industrial sectors.
GFL Environmental has announced an agreement to sell its Environmental Services business for an $8.0 billion enterprise value to Apollo Funds and BC Partners. The company will retain a 44% equity stake ($1.7 billion) in the business, with Apollo and BC each holding 28%. The transaction is expected to generate approximately $6.2 billion in net cash proceeds.
The company plans to use up to $3.75 billion to repay debt and allocate up to $2.25 billion for share repurchases. This strategic move is expected to reduce Net Leverage to 3.0x and decrease annualized cash interest by about $200 million. GFL will maintain an option to repurchase the Environmental Services business within five years of closing.
The transaction, expected to close in Q1 2025, was unanimously approved by GFL's board and received a fairness opinion from Canaccord Genuity Corp.
Apollo (NYSE: APO) has announced it will release its fourth quarter and full year 2024 financial results on Tuesday, February 4, 2025, before the New York Stock Exchange opens for trading. The company will host a management review of the financial results via public webcast at 8:30 am ET. The webcast will be accessible through Apollo's Investor Relations website at ir.apollo.com, with a replay available one hour after the event. Interested parties can sign up for email updates through the company's website.
Apollo (NYSE: APO) and Santander have announced a partnership where Apollo-managed funds will invest in a $370 million infrastructure credit portfolio. The transaction was led by Apterra, Apollo's infrastructure financing solutions affiliate founded in 2023.
The partnership demonstrates Apollo's capability to provide customized financing solutions while supporting Santander's strategy to rotate assets and maximize profitability. Apollo has deployed over $40 billion in energy transition and climate-related investments over the past five years, targeting $50 billion in clean energy and climate investments through 2027, with potential to deploy over $100 billion by 2030.
Apollo Global Management (NYSE: APO) and Workday (NASD: WDAY) will be added to the S&P 500 prior to the open on December 23, 2024, replacing Qorvo (NASD: QRVO) and Amentum Holdings (NYSE: AMTM).
Several corresponding moves across the S&P MidCap 400 and S&P SmallCap 600 will occur the same day to realign constituents with their market-cap ranges.