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.
ALT Finance Corporation has appointed Marcus Shaw as its new CEO, effective Sept. 13, 2021. Shaw, with over 20 years of experience in finance and non-profit sectors, will lead initiatives to enhance diversity in alternative investment. He will launch the AltFinance Fellowship program at four HBCUs to provide students with mentoring, scholarships, and career pathways in the investment field. Additionally, a virtual institute in collaboration with The Wharton School is set to launch in 2022, aiming to empower Black students in the finance industry.
The New Home Company (NYSE: NWHM) has completed a cash tender offer, resulting in its acquisition by Newport Merger Sub, Inc., a purchaser controlled by Apollo Global Management (NYSE: APO). As of the offer's expiration on September 8, 2021, approximately 89.95% of outstanding NWHM shares were tendered. Following this, the merger occurred, leading to NWHM becoming a privately-held subsidiary of the Apollo Funds, with shares converted to $9.00 each. This acquisition signifies a strategic move by Apollo, enhancing its portfolio in the homebuilding sector.
Apollo Global Management has announced a definitive agreement to acquire up to a 50% equity stake in MaxCap Group, a top commercial real estate financier in Australasia. This strategic investment is aimed at expanding Apollo's reach in the Australian and New Zealand markets, leveraging MaxCap's strong performance and pipeline exceeding A$6 billion. MaxCap’s co-founders will retain leadership roles, ensuring continuity. This partnership seeks to enhance lending solutions and create significant investment opportunities.
Newbond Holdings has announced the acquisition of the Westin Tampa Waterside hotel in partnership with Apollo Funds, managed by Apollo Global Management (NYSE: APO). This acquisition involves a 309-key hotel asset in Downtown Tampa, following a $17 million renovation. Newbond aims to capitalize on Tampa's growing hospitality market and enhance the asset's potential, benefiting from its prime waterfront location. The deal aligns with Apollo's strategy to acquire quality real estate below replacement costs, amidst a significant $3 billion redevelopment nearby.
Summary not available.
Apollo Global Management (NYSE: APO) has successfully acquired Yahoo, previously known as Verizon Media, marking a significant transition as Yahoo becomes a standalone entity under Apollo's management. Verizon retains a 10% ownership stake in Yahoo. Apollo aims to enhance Yahoo's offerings and user experience, tapping into its extensive user base of nearly 900 million monthly active users. Both Reed Rayman from Apollo and Yahoo's CEO Guru Gowrappan expressed optimism for future growth and innovation, signaling a new era for the iconic brand.
TD SYNNEX has successfully completed its merger, combining SYNNEX Corporation and Tech Data Corporation under the new entity TD SYNNEX. This merger enhances its global distribution capabilities across over 100 countries and strengthens its product offerings in key technology segments. Led by Rich Hume, the company aims to deliver superior value and innovation to its customers and vendors. Apollo Global Management received 44 million shares and $1.1 billion in cash through the merger.
Funds managed by Apollo Global Management announced a $150 million equity commitment to FlexGen Power Systems, a leader in energy storage technology. This investment aims to enhance FlexGen's growth and market position in the energy transition sector, where storage solutions are essential for integrating renewables reliably. FlexGen has deployed over 1.2 GWh of storage systems and offers advanced software solutions for energy management. Apollo's investment follows a series of investments in clean energy ventures, underscoring their commitment to supporting renewable energy advancements.
Apollo (NYSE: APO) has appointed Noah Gunn as Managing Director and Global Head of Investor Relations. Gunn will oversee the firm's investor relations strategy and engagement with stakeholders, reporting to CFO Martin Kelly. He previously held a similar role at Athene Holding, where he was instrumental during its merger with Apollo. With a background in equity research at prominent banks, Gunn aims to enhance communication with shareholders. As of June 30, 2021, Apollo managed approximately $472 billion in assets.
Intrado Corporation has partnered with Interprefy to enhance its webcasting platform by offering real-time audio interpretation in 26 languages, allowing clients to reach global audiences effectively. This partnership integrates seamlessly with Intrado's award-winning webcasting solution, facilitating cost-effective, on-demand interpretation for virtual and hybrid events. The initiative aims to foster engagement and inclusivity, as event planners increasingly seek ways to connect with diverse audiences. Intrado's recent acquisition of Hubb further strengthens its position in the event management technology sector.