Apollo Global Management, Inc. - APO STOCK NEWS

Apollo Hybrid Value Fund II has successfully raised approximately $4.6 billion, representing a more than 40% increase over its predecessor, Fund I. The new fund received strong backing from both new and existing limited partners, focusing on flexible equity and debt capital solutions. Key commitments include preferred equity investments in various companies, showcasing the firm's strategy to offer attractive, downside-protected returns. Apollo emphasizes its integrated platform's ability to provide bespoke solutions across different market conditions, driving institutional interest in this fund.

Apollo (NYSE: APO) has appointed Jessica Bibliowicz to its board of directors and audit committee effective March 31, 2022, increasing the board to 17 members, with 12 independent directors. Bibliowicz brings over 30 years of experience in financial services, having previously served as president and CEO of National Financial Partners and held senior roles at Prudential and Smith Barney. Apollo CEO Marc Rowan emphasized that her expertise will enhance the board's diversity and strength, aligning with the firm's governance improvements and commitment to stakeholder value.

Apollo (NYSE: APO) has successfully completed the acquisition of a real estate portfolio valued at €842 million from the Italian pension fund ENPAM. The portfolio includes 68 premium commercial and residential properties, notably in Rome and Milan, featuring hotels, retail spaces, logistics, and parking facilities. Apollo's European Principal Finance business, which oversees $8.6 billion in assets, aims to leverage this acquisition to enhance its real estate investment strategy. Advisors involved in the transaction included Realty Partners, Lazard, and several legal and financial firms.

Figure Lending and Apollo have completed a pioneering transaction utilizing blockchain technology for digital mortgage loans, aiming to enhance efficiency in the $3 trillion mortgage market. This innovative process involves the origination of eNote mortgages secured on the Provenance Blockchain, with real-time multi-party settlement capabilities. The approach addresses inefficiencies associated with traditional mortgage transactions, reducing risks and costs. By employing this streamlined system, the mortgage ecosystem is expected to transition into a more modern and digital future.

Spartan Acquisition Corp. III (NYSE: SPAQ) is set to finalize its business combination with Allego Holding B.V., a leading electric vehicle charging network, on March 16, 2022. Following this merger, Allego's ordinary shares and warrants will trade on the New York Stock Exchange starting March 17, 2022, under the symbols ALLG and ALLG.WS. Allego operates over 26,000 charging points across Europe and aims to enhance the EV charging infrastructure while remaining agnostic of vehicle models. This move marks a significant step in advancing sustainable transport solutions in Europe.

Brightspeed has chosen KGPCo as its strategic supply chain and logistics partner to support its planned $2 billion fiber optics transformation across 20 states. This partnership aims to enhance logistics and process optimization for materials and customer equipment, ensuring efficient field services. Brightspeed's initiative is set to reach up to three million homes and businesses over the next five years, marking a significant investment in rural and suburban broadband services. The company's operations will initially include assets from Lumen Technologies, pending acquisition by Apollo-managed funds.

Brightspeed has appointed Jeff Lowney as Executive Vice President and Chief Commercial Officer, effective immediately. Reporting to CEO Bob Mudge, Lowney will lead product and market strategies to advance the company's $2 billion fiber optics transformation plan, targeting up to 3 million homes and businesses over the next five years. Lowney's extensive experience includes leadership roles at Windstream and Lumen Technologies. Brightspeed aims to enhance broadband access and connectivity, bridging the digital divide across 20 states.

On March 9, 2022, Intrado Corporation announced the sale of its Flowroute business to BCM One. This divestiture is aimed at aligning strategic priorities between the two companies. Flowroute, a cloud-based communications platform, supports rapid voice and messaging service deployment. The net proceeds from the sale will be utilized to repay debt and for general corporate purposes. Financial advisers Q Advisors and LionTree Advisors contributed to this transaction, which underscores Intrado's focus on streamlining operations and enhancing its financial stability.