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 robust Q1 results with record GAAP earnings of $2.81 per share and fee-related earnings of $0.65, reflecting a 26% year-over-year increase. The private equity portfolio appreciated 22% in the quarter. Key milestones included the strategic merger announcement with Athene and advancements in their High Grade Alpha platform. Apollo declared a cash dividend of $0.50 per share, expected to be paid on May 28, 2021, with future quarterly dividends aimed to distribute substantial earnings to shareholders, post-merger.
Apollo Global Management has committed $600 million to support Standard Industries Holdings in acquiring W.R. Grace & Co. for approximately $7 billion. This investment comes from Apollo's Hybrid Value business, known for its expertise in the chemicals sector. The acquisition is expected to enhance Grace's growth potential within Standard's portfolio. The transaction is pending shareholder and regulatory approvals.
25madison has successfully closed its latest funding round, raising $60 million to date. Investors include Apollo Global Management (NYSE: APO) and Endeavor, strengthening its strategy to build early-stage companies. 25madison has achieved early successes with notable projects such as the disaster preparedness app harbor and the plant-based living platform The Beet. Apollo aims to leverage this partnership to create new revenue streams by investing in and co-incubating startups, enhancing market acceptance and reducing execution risk.
Apollo Global Management (NYSE: APO) has announced a conference call on May 4, 2021, at 8:30 a.m. EST to discuss its financial results for Q1 2021. The release of these results will occur earlier on the same day at 7 a.m. EST. Interested parties can join the call by dialing (833) 614-1406 for U.S. callers or +1 (914) 987-7127 for international callers, using conference ID 5576528. A webcast will also be available on Apollo's website. As of December 31, 2020, Apollo managed approximately $455 billion in assets across various funds.
Apollo Global Management announced the launch of Apollo Credit Secondaries, a new platform focusing on private credit secondary transactions with $1 billion in assets. This initiative is supported by investments from Apollo's insurance clients and aims to establish a leadership position in the expanding market. The firm plans to leverage its extensive $330 billion Credit business to enhance sourcing and underwriting capabilities. Apollo is committed to providing attractive risk-adjusted returns while addressing liquidity needs for investors.
Intrado Corporation has launched SD-WAN Thin Edge, a technology designed to connect remote workers, IoT devices, and fixed/mobile sites over LTE networks. This solution allows data processing at the edge, reducing costs and bandwidth by avoiding the need to send large amounts of data to the cloud. Featuring zero trust security, connectivity, and edge computing within a single device, this platform addresses the needs of a hybrid workplace. As organizations evolve, SD-WAN Thin Edge aims to enhance Intrado's UCaaS portfolio while providing robust support and deployment services.
Apollo Funds has successfully completed a cash tender offer for all outstanding shares of The Michaels Companies, acquiring approximately 85.92% of shares validly tendered. This transaction enables Apollo to merge with Michaels without further stockholder approval, under Section 251(h) of Delaware law. All outstanding shares will be converted to $22.00 per share in cash, resulting in Michaels becoming a privately-held subsidiary of Apollo. The merger is set to close on April 15, 2021, and Michaels' stock will cease trading on Nasdaq.
ABC Technologies Holdings (TSX: ABCT) announced that its majority shareholder, ABC Group Canada LP, has agreed to sell a majority stake to Apollo Funds, managed by Apollo Global Management (NYSE: APO), for CAD$10.00 per share. This transaction involves the sale of 51% of ABC's common shares, valued at approximately CAD$276.6 million. Post-acquisition, Apollo will nominate five board members while ABC LP will retain three. Closing is subject to regulatory approvals across several countries. The deal includes a potential price increase to CAD$10.64 per share if ABC meets certain acquisition thresholds.
Apollo Global Management (NYSE: APO) will release its Q1 2021 financial results on May 3, 2021, after the market close. A conference call is scheduled for May 4, 2021, at 8:30 a.m. ET to discuss these results, accessible via phone or webcast. As of December 31, 2020, Apollo managed approximately $455 billion in assets across credit, private equity, and real assets. For participant access, dial (833) 614-1406 for U.S. callers or +1 (914) 987-7127 internationally, using conference ID 5576528.
On April 8, 2021, Apollo (NYSE: APO) announced an extension of the cash tender offer to acquire The Michaels Companies, Inc. (Nasdaq: MIK), now set to expire on April 14, 2021. As of the extension date, approximately 40.49% of Michaels' shares, totaling 57,954,675, had been tendered. Previous expiration was scheduled for April 12, 2021. The tender offer will proceed following the satisfaction of merger agreement conditions. Apollo cautions stakeholders regarding forward-looking statements and risks associated with the tender offer.