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.
ABC Technologies has finalized the sale of a majority stake to the Apollo Funds, an affiliate of Apollo Global Management, for CAD$10.00 per share, totaling approximately 27.7 million shares, representing 51% of the company. The transaction leads to new board reconstitutions, with Apollo nominating five out of nine members. CEO Todd Sheppelman highlights the transaction as a significant milestone for growth within the automotive technical plastics sector, while Apollo expresses enthusiasm about future collaborations. Public shareholders retain about 20.9% of shares post-transaction.
Intrado Corporation has initiated an Asset Sale Offer to purchase up to $100 million of its 8.50% Senior Notes due 2025 at 100% of the principal amount, plus accrued interest. The offer is set to expire on July 21, 2021. If the total amount of Notes tendered exceeds the offer amount, purchases will be made on a pro rata basis. The company emphasizes that the press release is not a redemption notice or an offer to sell securities, and it only applies to validly tendered Notes.
Intrado Corporation has completed the sale of its Health Advocate business to Teleperformance for approximately $690 million. The net proceeds are around $591 million after taxes, fees, and expenses. Intrado plans to use approximately $350 million to pay down its term loans and $100 million for repurchasing its Senior Notes due 2025. The remainder of the proceeds will be reinvested in the company, allowing focus on cloud-based technology and next-generation solutions.
Intrado Corporation will host a free live virtual event, 911 Live | The Frontline, on June 29, 2021, aimed at the public safety community. The event features panel discussions on emerging technologies affecting emergency communications, including topics like Smart Cities, cloud-based systems, and non-voice emergency services. Attendees will engage with experts through interactive sessions and Q&A. Jeff Robertson, President of Intrado Life & Safety, emphasizes the importance of advancing public safety technologies.
Platinum Equity has announced a definitive agreement to acquire McGraw Hill from Apollo Funds for approximately $4.5 billion. This acquisition aims to leverage McGraw Hill's extensive educational content and digital platforms, which generate over $1 billion in annual revenue. The digital revenue share has increased significantly, from less than 25% in 2013 to over 60% today. The transaction is subject to regulatory approval and is expected to complete in the summer of 2021, with McGraw Hill's leadership team remaining intact.
Apollo, Ares, and Oaktree have launched a $90 million initiative, AltFinance: Investing in Black Futures™, aimed at diversifying the alternative investment sector. This 10-year program targets students from Clark Atlanta University, Morehouse College, and Spelman College, providing mentorship, scholarships, and career pathways. The initiative includes a fellowship program, a virtual institute created in partnership with Wharton, and aims to remove financial barriers for students. Each firm will contribute $3 million annually to support this transformative effort.
Apollo Global Management (NYSE: APO) announced a commitment to invest up to $500 million in senior secured credit facilities through Victory Park Capital (VPC). This partnership focuses on asset-backed lending to e-commerce aggregators, particularly those operating on Amazon. The collaboration aims to enhance capital access for growth-oriented firms in the digital marketplace. This venture marks Apollo’s entry into growth lending and aims to leverage VPC's expertise in asset-backed credit, positioning both firms to capitalize on emerging opportunities in this high-growth sector.
Apollo Global Management announced the appointment of David Simon to its Board of Directors, effective June 15, 2021. Simon, CEO of Simon Property Group, is noted for his expertise in financing and deal-making. Following the upcoming merger with Athene, four directors from Athene, including CEO Jim Belardi, will also join the board. The combined board will consist of 18 members, with a two-thirds independent majority. These changes aim to enhance corporate governance and align shareholder interests, signaling growth potential for APO.
Apollo Global Management has launched Apollo HBCUNet, a new platform developed with CareerBuilder to connect students and alumni from Historically Black Colleges and Universities (HBCUs) with career opportunities across its network. The initiative aims to enhance workplace diversity and offer access to job openings in various sectors, while building on previous efforts like VetNet, which has successfully placed over 3,000 veterans. Apollo's commitment to diversity includes partnerships and initiatives focused on increasing representation and inclusion within its workforce.
Apollo Global Management has acquired a majority interest in Total Operations and Production Services (TOPS) from Black Bay Energy Capital. This acquisition aims to bolster TOPS's growth in environmentally friendly, low-emission gas compression services, particularly in the Permian Basin. TOPS specializes in electric-driven compression systems designed for improved performance and reduced emissions. The investment is expected to enhance TOPS's capabilities to meet rising customer demand and advance its proprietary technologies.