Welcome to our dedicated page for Apollo Global Management news (Ticker: APO), a resource for investors and traders seeking the latest updates and insights on Apollo Global Management stock.
Apollo Global Management, Inc. (NYSE: APO) is a premier alternative investment manager that specializes in private equity, credit, and real estate, with expertise in distressed asset situations. Founded in 1990, Apollo is known for its contrarian, value-oriented investment approach. The company operates across various sectors including chemicals, manufacturing, natural resources, consumer services, financial services, leisure, media, and technology.
As of December 31, 2023, Apollo managed approximately $651 billion in assets. The firm generates the majority of its revenue from its Retirement Services segment through Athene, a leading provider of retirement savings products. Apollo's integrated business model sets it apart, enabling seamless capital deployment across a diverse portfolio.
Recently, Apollo has made significant strides in renewable energy investments. For example, Great Bay Renewables, a joint venture with Apollo funds, entered into a $10.1 million facility with Hexagon Energy to support solar development projects totaling 1,500 MWac in the MISO interconnection queue.
Apollo has also expanded its international footprint through strategic acquisitions and partnerships. The firm recently acquired a majority stake in Panasonic Automotive Systems Corporation, aiming to accelerate growth in the advanced automotive solutions sector. Additionally, Apollo formed a partnership with MassMutual, making MassMutual a minority equity owner in ATLAS SP Partners.
Financially robust, Apollo continues to innovate in capital solutions, having secured transactions like its $1.85 billion acquisition of U.S. Silica Holdings, Inc. This move further diversifies Apollo's investment portfolio and fortifies its presence in the industrial minerals sector.
Athene has announced its acquisition of a controlling stake in Aqua Finance from Blackstone for about $1 billion. This strategic move positions Athene to enhance its consumer finance capabilities, with Aqua expected to originate $2 billion in loans in 2021. Blackstone will retain a minority stake in Aqua, which specializes in lending for home improvements and water treatment. The deal is expected to close in the first half of 2022, pending regulatory approvals. Aqua’s growth trajectory has doubled its annual loan originations since 2018, indicating a strong market presence.
Shutterfly, a leader in ecommerce for personalized products, has partnered with fashion icon Iris Apfel to launch an exclusive NFT Holiday CryptoCard Collection. This limited-edition collection features three unique NFTs showcasing never-before-seen moments from Apfel’s life, with auction proceeds benefiting the Boys & Girls Clubs of America. The auction runs from November 30 to December 7, with Shutterfly also donating $25,000 to the organization. This venture marks Shutterfly and Apfel's first NFT initiative, highlighting their commitment to creativity and community support.
Apollo Funds has announced the acquisition of a 50% stake in Broad Reach Power, a leading US energy storage and renewable energy platform, from EnCap Investments. The transaction represents the first sale for EnCap's Energy Transition Fund I and comes with a commitment of up to $400 million in new equity to support Broad Reach's growth. With over 1.4 GWh of storage assets and a 21 GW portfolio of renewable projects, Broad Reach aims to enhance energy storage solutions amid increasing clean energy volatility. The deal is expected to close by year-end 2021.
Brightspeed, launched on Nov. 17, 2021, aims to establish itself as a leading telecom provider by leveraging the ILEC assets of Lumen Technologies across 20 states. Backed by Apollo-managed funds, the company plans to invest over $2 billion to enhance connectivity through fiber optics, targeting up to three million homes over the next five years. The leadership team, including CEO Bob Mudge, boasts extensive industry experience. Brightspeed's goal is to bridge the digital divide while establishing its headquarters in Charlotte, NC.
LifePoint Health has announced a joint venture with 25madison and Apollo Global Management (NYSE: APO), establishing a $20 million healthtech startup incubator, named 25m Health, in Nashville. This initiative aims to foster innovative healthcare solutions and enhance patient outcomes. LifePoint's strategy, known as "LifePoint Forward," focuses on improving healthcare quality and access while reducing costs. The venture will leverage the expertise of 25madison to incubate businesses that address healthcare challenges.
Apollo and Wecken & Cie. are reviewing strategic options regarding their controlling stake in DEMIRE Deutsche Mittelstand Real Estate AG, following strong performance since their investments in 2015 and 2018. The duo is considering a potential sale of their entire stake to a strategic investor. Since 2018, DEMIRE has significantly increased its FFO and NAV through targeted portfolio management, with a market value exceeding EUR 1.6 billion as of September 30, 2021. They remain committed to supporting the existing management team as the company prepares for its next growth phase.
Apollo Global Management (NYSE: APO) has appointed Toby Myerson as a Senior Advisor to its operations in Japan. Myerson, a seasoned professional with extensive experience in the legal and finance sectors, has previously developed a Japan office for Paul, Weiss, Rifkind, Wharton & Garrison LLP. This appointment aligns with Apollo's growth strategy in Japan and the Asia Pacific region, where significant corporate carveouts with Mitsubishi Chemical and Showa Denko have been executed. As of September 30, 2021, Apollo managed approximately $481 billion in assets.
ABC Technologies Holdings Inc. (TSX:ABCT) has completed the sale of a minority stake, transferring 13,854,412 common shares (approximately 25.6% diluted) to Oaktree Capital Management from ABC Group Canada LP at CAD$9.00 per share. This acquisition grants Oaktree significant board influence, allowing them to nominate three directors. Oaktree now holds approximately 26.4% of the total shares, while ABC LP has exited its investment completely. The company plans to issue an updated slate of directors for shareholder approval at the upcoming meeting on December 15, 2021.
EmployBridge, a top provider of workforce solutions, has announced an agreement to acquire Hire Dynamics, a leading provider in the Southeastern U.S., with over $450 million in annual revenue. This acquisition aims to enhance EmployBridge's offerings and accelerate strategic investments. Post-acquisition, Billy Milam of Hire Dynamics will become CEO, while Michael Miles will serve as Executive Chairman. The deal is set to close by the end of November. The acquisition is backed by Apollo-managed funds, emphasizing growth and innovation.
Altius Renewable Royalties Corp. (OTCQX: ATRWF) is expected to file its financial results for Q3 2021 after market close on November 9, 2021. CEO Brian Dalton highlighted the quarter as significant due to the expansion of royalty financing in the U.S. renewable energy sector. The company deployed US$87.5 million in royalty financing during the quarter, marking its first two investments in operational projects. ARR's cash position as of September 30, 2021, stood at US$54.9 million, amidst a net loss of US$1.41 million.
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