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.
Apollo Global Management (NYSE: APO) announced that James Zelter, Co-President and Chief Investment Officer, Credit, will present at Morgan Stanley’s Virtual Financials, Payments and CRE Conference on June 15, 2021, at 11:45 am ET. A live webcast will be available on Apollo's website, with a replay following the event. Apollo is a global alternative asset manager with a focus on providing clients with excess returns through various investment strategies. As of March 31, 2021, the firm managed approximately $461 billion in assets.
Apollo has announced its acquisition of EmployBridge, the leading industrial staffing company in the U.S. This strategic move aims to enhance growth and support complex corporate needs across the supply chain. With an addressable market of approximately $28 billion, Apollo plans to invest in technology and improve the associate experience.
The transaction is subject to customary closing conditions and is expected to finalize by July 2021. Specific terms were not disclosed, but the deal represents a milestone for EmployBridge amidst rising labor demand.
Intrado Corporation has partnered with Permission Click Inc. to launch a new digital solution aimed at K-12 schools, facilitating the automation of manual workflows. This platform is designed to streamline processes such as managing permissions and student registrations, crucial for schools aiming to resume activities post-pandemic. Key features include automation of paper-based forms, easy IT-free implementation, and a unified platform for monitoring approvals. This partnership promises to enhance operational efficiency for over 63,000 schools in North America.
Apollo Global Management announced the promotion of Stephanie Drescher to Chief Client and Product Development Officer, alongside the establishment of a Global Wealth Management Solutions (GWMS) vertical. This new division aims to expand access to private markets for individual investors. CEO Marc Rowan highlighted the firm's strategy to enhance its wealth management channel, addressing the under-penetration of alternatives among individuals. The firm also plans to bolster wealth management distribution with recent hires, including Howard Nifoussi as Head of U.S. Wealth Management Distribution.
Apollo Global Management (NYSE: APO), alongside Merx Aviation, has finalized a sale and leaseback deal with Air France for two Boeing 777F aircraft. These aircraft, manufactured in 2009, enhance Apollo's aviation portfolio amid a surge in demand for international air freight. CEO Gary Rothschild highlighted the 777F's efficiency in transporting cargo over long distances. Merx operates a global fleet across 28 countries, emphasizing flexibility in capital solutions.
Apollo Global Management announced that Co-Founder Josh Harris will step down from day-to-day operations to focus on his investment and entrepreneurial activities. Harris will remain on the Board of Directors and Executive Committee. His transition coincides with Apollo's combination with Athene, expected to close in Q1 2022. Apollo CEO Marc Rowan praised Harris for his pivotal role in building the firm, which has $461 billion in assets under management and reported record fee-related earnings. Harris plans to develop his multi-asset-class investing business and philanthropic efforts.
Apollo Global Management has appointed Craig Farr as a Senior Partner to lead its capital solutions activities in a newly created role. He will oversee Apollo's centralized origination, structuring, and distribution platform. The firm aims to enhance its value generation for clients through less liquid investment opportunities, particularly in private assets, where it originated over $47 billion in 2020. With approximately $461 billion in assets under management, Apollo is focused on expanding its private asset origination capabilities.
Redbox has announced a merger with Seaport Global Acquisition Corp., marking its entry into public trading with an enterprise value of $693 million. Post-transaction, Redbox will list under the ticker RDBX. Shareholders, including Apollo Global Management, will retain 59% of equity. The merger aims to enhance Redbox's digital transformation and debt reduction, potentially increasing revenue through various entertainment models. The deal has received board approval and is set to close in Q3 2021, relying on $145 million from Seaport's trust account and a $50 million PIPE led by Ophir Asset Management.
Grupo Comercial Chedraui's subsidiary, Bodega Latina Corporation, has agreed to acquire Smart & Final Holdings from Apollo Global Management for approximately $620 million, including debt assumption. Smart & Final, operating over 250 stores across California, Arizona, and Nevada, generated $4.1 billion in revenue and $167 million in adjusted EBITDA for FY2020. The acquisition aims to expand Chedraui's U.S. footprint, enhance customer demographics, and achieve significant revenue growth, with a pro forma sales projection exceeding $11 billion. The deal is anticipated to be accretive to earnings in its first year.
On May 10, 2021, IGT completed the sale of its Italian B2C gaming machine, sports betting, and digital gaming businesses, represented by Lottomatica Videolot Rete S.p.A. and Lottomatica Scommesse S.r.l., to Gamenet Group S.p.A. for €950 million. The transaction includes an initial payment of €725 million, with additional payments scheduled for December 31, 2021, and September 30, 2022. IGT plans to utilize the funds to cover transaction expenses and reduce debt, enhancing its financial position.