Apollo Global Mgmt Inc Stock Price, News & Analysis

Apollo Global Management (NYSE: APO) announced that Co-President Scott Kleinman will present at the Bernstein’s 38th Annual Strategic Decisions Conference on June 2, 2022, at 3:30 pm ET. A live webcast will be available, and a replay will follow the event. Apollo, a significant player in the alternative asset management sector, reported approximately $513 billion in assets under management as of March 31, 2022. The firm focuses on providing clients with excess returns across various investment strategies, including yield, hybrid, and equity.

Apollo has announced a strategic partnership with Sofinnova Partners, acquiring a minority stake and committing up to €1 billion in capital to enhance growth opportunities. This collaboration aims to bolster Sofinnova's investment capabilities in the life sciences sector, enabling access to Apollo's extensive global investment framework. Both firms intend to develop new therapeutic solutions and support the life sciences ecosystem, anticipating significant benefits for innovative startups. The deal is pending approval and expected to close in the second half of 2022.

During the Annual Meeting on May 11, 2022, United Bankshares elected two new directors, Diana Lewis Jackson and Lacy I. Rice, along with the new CEO, Richard M. Adams, to its board. Jackson is the founder and CEO of Action Facilities Management, while Rice is the co-founder of Federal Capital Partners. Both bring extensive leadership experience to the company. This board refreshment aims to enhance local leadership commitment and service excellence across United's operational footprint.

Cencosud, a leading South American retailer, has entered into a definitive agreement with Apollo Funds to acquire a 67% stake in The Fresh Market for $676 million, reflecting an enterprise valuation of $1.568 billion. This strategic move allows Cencosud to diversify its operations, gaining access to the U.S. market, which accounts for approximately 12% of pro forma revenues. The Fresh Market reported $1.933 billion in revenue and $196 million in adjusted EBITDA for 2021, with the investment aimed at strengthening its balance sheet and enhancing operational efficiencies.

AT&T has launched the first nationwide location-based routing for 9-1-1 calls, enhancing emergency response efficiency. This system accurately determines a caller's location using GPS, reducing error margins to 50 meters, a significant improvement over the previous 10-mile radius method. The rollout is active in multiple states, with full implementation expected by June. Approximately 80% of 9-1-1 calls are now made from mobile devices. This initiative aims to provide faster, more reliable emergency services, showcasing AT&T's commitment to public safety and innovative communication solutions.

Apollo Global Management (NYSE: APO) reported strong first quarter results for 2022, showcasing resilience amidst market volatility. Following its merger with Athene, Apollo's earnings power is highlighted with active asset origination and expansion in retail distribution and capital solutions. A cash dividend of $0.40 per share was declared, payable on May 31, 2022. Overall, as of March 31, 2022, Apollo manages approximately $513 billion in assets.

Apollo has announced the purchase of $750 million in senior secured notes from Mumbai International Airport Ltd. (MIAL), a significant asset within the Adani Portfolio. The deal enables MIAL to refinance its existing loans and fund new capital projects as part of a transformation of the airport into a multifaceted business and leisure hub. This private placement is one of the largest in India's history. Apollo's commitment reflects its strength in offering long-term capital solutions, while MIAL aims to enhance consumer experiences in the post-pandemic era.

TAKKION TP&L Holdings has acquired Harvest Energy Services, enhancing its operations and maintenance (O&M) capabilities in the renewable energy sector. This acquisition, announced on May 3, 2022, marks TAKKION's third significant purchase in under 18 months, reinforcing its presence in the wind services market. The acquisition is expected to improve TAKKION's technical capabilities, particularly in blade repair, and includes a new training center in Broomfield, Colorado, supporting job creation in the industry.

Apollo (NYSE: APO) has completed its acquisition of the US asset management business of Griffin Capital, adding significant scale and investment capabilities to its Global Wealth business. This acquisition includes two interval funds now renamed as Apollo Diversified Real Estate Fund and Apollo Diversified Credit Fund, collectively managing approximately $6.5 billion in assets. The deal enhances Apollo's ambition to broaden its alternative strategy offerings to individual investors and their advisors.