Apollo Global Mgmt Inc Stock Price, News & Analysis

Cengage Group, a global edtech company, announced a definitive agreement with Apollo Funds to purchase $500 million of convertible preferred stock. The transaction is set to close by June 30, 2023, contingent on customary conditions. CEO Michael E. Hansen stated this investment reflects confidence in their performance and strategy, allowing Cengage to reduce debt and invest in growth initiatives. Apollo's experience in the education sector is expected to enhance Cengage's transformation from print to digital offerings. Recent developments include acquiring Infosec for cybersecurity education and launching Ready to Hire, aimed at addressing skilled labor gaps. This funding is pivotal for Cengage to support education for employment and skill development.

Apollo has announced the opening of a new office in London, enhancing its presence in Europe and supporting its global growth strategy. The new location at 1 Soho Place spans 88,000 square feet and will consolidate teams from previous offices. This modern workplace is designed to foster collaboration, featuring dedicated client spaces and amenities such as a coffee bar, dining area, and fitness center. With nearly 400 employees in Europe, Apollo manages about $548 billion in total capital, with a significant portion of that attributed to its European operations. This expansion emphasizes Apollo’s commitment to delivering comprehensive asset management and retirement services across the region.

Apollo has announced achieving over $1 billion in diverse spending across its funds' private equity portfolio as part of its Supplier Diversity Program, marking a significant milestone. This achievement is expected to impact the economic landscape positively by contributing to a more inclusive economy. Apollo has set a new target of $2 billion in diverse spending by 2025. The initiative emphasizes partnerships with minority- and women-owned businesses and has received strong support from portfolio companies such as ADT, Novolex, and Yahoo. Apollo aims to expand its supplier diversity efforts, hosting a Supplier Diversity Summit in collaboration with Ariel Alternatives, and increasing the supplier pool for long-term economic opportunities. As of December 31, 2022, Apollo manages approximately $548 billion in assets.

Apollo (NYSE: APO) will announce its financial results for Q1 2023 on May 9, 2023, before market opening. The management team will discuss these results during a webcast at 8:30 am ET, accessible through their Investor Relations website.

As of December 31, 2022, Apollo manages approximately $548 billion in assets. The company focuses on delivering excess returns across the risk-reward spectrum, emphasizing yield, hybrid, and equity investment strategies. Additionally, through Athene, Apollo offers retirement savings products and solutions aimed at financial security for clients.

Apollo (NYSE: APO) announced a $500 million investment into surplus notes from Chesterfield Reinsurance Company, a subsidiary of RGA. This marks Apollo’s second transaction with RGA, utilizing its expertise in insurance and multi-asset credit. Jamshid Ehsani, an Apollo Partner, expressed confidence in Apollo's role as a long-term capital partner for leading reinsurance companies, highlighting the firm's capability to create scalable investment solutions. As of December 31, 2022, Apollo managed approximately $548 billion in assets, emphasizing its commitment to delivering high-quality credit investment opportunities.

Apollo (NYSE: APO) has announced an upsize and extension of the Apollo Delos platform, increasing its partnership with Apeiron Management SpA by EUR 150 million. This investment, focused on corporate credit and special situations in Italy, follows over EUR 470 million deployed since 2018. Apeiron will continue to manage transaction origination and execution. Key hires have been made to enhance the investment team's capabilities as the partnership aims to capitalize on credit opportunities across the Italian market, with emphasis on corporate borrowers.

On March 17, 2023, Atlas Air Worldwide (AAWW) announced the completion of its acquisition by an investor group led by Apollo (APO) along with J.F. Lehman & Company and Hill City Capital. Each Atlas shareholder will receive $102.50 in cash per share. This acquisition marks a significant milestone as Atlas aims to leverage its investor partners' resources for growth, while continuing its operations under the Atlas name. The current executive team, led by CEO John Dietrich, will remain in place. Following the transaction, Atlas Air’s stock will no longer be traded on the NASDAQ.

Univar Solutions Inc. (NYSE: UNVR) has entered into a definitive merger agreement with Apollo (NYSE: APO) for an all-cash acquisition valued at approximately $8.1 billion. Shareholders will receive $36.15 per share, representing a 20.6% premium over its undisturbed closing stock price on November 22, 2022. The transaction is expected to close in the second half of 2023, pending regulatory approvals and shareholder consent. The merger will not be financially conditioned, marking a significant step for Univar as it transitions to a privately-held entity while continuing its operations globally.

Total Operations and Production Services, LLC (TOPS) announced a significant upsize of its credit facility by 50%, increasing total commitments to $320 million from $213 million. This financing move is backed by both new and existing lenders, positioning the company for continued expansion in 2023. Following a record year in 2022, where TOPS added over 100,000 horsepower to its gas compression fleet, CEO Brian Green emphasized the strong lender confidence in the company's performance amid challenging market conditions. The additional funds will enhance TOPS' ability to serve its client base in the Permian Basin with industry-leading, low-emission compression solutions.