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 (NYSE: APO) will feature CEO Marc Rowan in an analyst-led fireside chat at the Goldman Sachs US Financial Services Conference on December 7, 2022, at 8:40 am ET. This event will provide insights into Apollo's strategic direction and financial services. Interested parties can access a live webcast on the Stockholders section of Apollo's website, with a replay available shortly after for those who cannot attend live. Apollo has approximately $523 billion in assets under management, focusing on investment strategies such as yield, hybrid, and equity.
Figure Technologies has partnered with Apollo (NYSE: APO) and Hamilton Lane (NASDAQ: HLNE) to launch digitally native investment vehicles via Figure's Digital Fund Services (DFS). This platform utilizes the Provenance Blockchain to enhance private market investing through improved accessibility, liquidity, and operational efficiency. Key features include on-chain fund subscriptions, Universal Passporting for KYC credentials, and an alternative trading system for secondary transactions. Figure aims to work with more industry leaders to harness blockchain's potential in financial services.
Apollo has completed the acquisition of Tenneco, a major player in automotive products, for $20 per share, making Tenneco a privately held firm. Jim Voss has been appointed as the new CEO. Tenneco reported $18 billion in annual revenue and operates over 260 facilities globally with approximately 71,000 employees. Apollo aims to enhance Tenneco's growth through strategic investments. Following this acquisition, Tenneco's shares will no longer be traded on the NYSE.
Apollo Debt Solutions BDC announced an increase in its regular monthly distribution from $0.1408 to $0.1600 per share, raising the annualized distribution rate from 7.3% to 8.3% based on an October NAV of $23.07. This increase will start with the November 2022 distribution, payable on or about December 27, 2022. Additionally, Class S and Class D shares will see increases to $0.1439 and $0.1553 respectively, yielding 7.5% and 8.1% per year. The rise in distributions is attributed to higher core earnings from rising interest rates and favorable spreads on loan investments.
On November 16, 2022, Brightspeed, the fifth largest ILEC in the U.S., announced a Shared Success Plan for its employees, rewarding those with over 12 months of service with one-time payments linked to company valuation growth during a change of control. Following its separation from Lumen Technologies, Brightspeed aims to expand its fiber optics network, targeting over 1 million new fiber passings across 17 states by year-end 2023. The plan, funded by Apollo's private equity funds, emphasizes employee engagement in the company's transformative growth.
Intrado Corporation has announced a rebranding to West Technology Group, LLC, consolidating its various business names under a single umbrella brand. Key services include Notified, Mosaicx, TeleVox, SchoolMessenger, West Utilities, and West Telecom. The company is also divesting its Safety business to Stonepeak for $2.4 billion, expected to close in Q1 2023, continuing the legacy of the Intrado name in this sector. West aims to leverage its established reputation to enhance market presence while operating globally across multiple regions.
Liquidity Group, a fast-growing lender, is establishing an R&D center in Abu Dhabi, supported by the Abu Dhabi Investment Office's Innovation Programme. This partnership marks a significant step in enhancing Machine Learning capabilities within the region. The agreement, finalized during Abu Dhabi Finance Week 2022, will see Liquidity Group leverage financial incentives to develop advanced underwriting algorithms and machine learning solutions. This initiative aims to bolster Abu Dhabi's status as a financial hub while fostering collaboration between the UAE and Israel.
25m Health has made significant strides in its first year, launching six startups and investing in five others, focusing on innovative healthcare solutions. Established in November 2021 through a collaboration between Lifepoint Health, 25madison, and Apollo Global Management (NYSE: APO), the incubator targets improvements in care access, quality, and delivery. Key companies include Eon, Keragon, and Midi, addressing diverse healthcare needs. Leadership is strengthened with seasoned industry experts to drive innovation and scalability in healthcare.
Intrado Corporation has announced updates to its Notified PR platform, enhancing features like CRM tools, targeted media profiles, and social media analytics to support public relations professionals. Key updates include expanded CRM functionalities for better media alignment, improved media contact profiles, custom newsletter creation, and advanced social media engagement metrics. These enhancements aim to provide comprehensive data insights and streamline campaign management. Notified will showcase these updates at the PRSA Annual Conference in Grapevine, TX, from November 13-15, 2022.
Pegasus Merger Co., linked to Apollo Global Management, has extended the expiration date of its cash tender offers for Tenneco's Senior Secured Notes from November 7, 2022, to November 14, 2022. Over 99% of the 5.125% Notes and 98% of the 7.875% Notes have been tendered. The transaction is contingent upon consummation of a merger and other financing conditions. The total consideration for both notes includes a tender consideration of $982.50 for the 5.125% Notes and $1,012.50 for the 7.875% Notes, excluding accrued interest.