Apollo Global Management, Inc. - APO STOCK NEWS

Apollo (NYSE: APO) will hold a special stockholders meeting on December 17, 2021, at 9:30 a.m. ET to vote on its merger with Tango Holdings and Athene Holding. The meeting is virtual due to COVID-19 concerns. The merger requires approval from Apollo and Athene shareholders, along with regulatory clearance, and is anticipated to conclude in January 2022. As of September 30, 2021, Apollo managed approximately $481 billion in assets, focusing on delivering returns across various investment strategies.

Apollo Global Management (NYSE: APO) reported strong third-quarter results for the period ending September 30, 2021, showcasing record distributable earnings and strategic investments in its asset origination capabilities, including platforms like MaxCap and Newfi. CEO Marc Rowan emphasized the company's growth momentum and talent acquisition. Apollo declared a cash dividend of $0.50 per share for Class A Common Stock, payable on November 30, 2021, reflecting its commitment to distribute earnings. The firm manages approximately $481 billion in assets, further positioning itself within the alternative asset management sector.

Shutterfly announced the appointment of Mike Eklund as Senior Vice President and Chief Financial Officer (CFO), effective November 1, 2021. He succeeds Vivian Liu, who departs on November 9, 2021. Eklund brings extensive experience, previously serving as CFO at Scientific Games and IRI, and holding key financial roles at Dell Technologies. CEO Hilary Schneider emphasized Eklund's proven track record in enhancing value and expressed excitement about Shutterfly's growth potential as it enters a new phase.

Apollo has announced an investment of $824 million in a convertible equity portfolio financing agreement with NextEra Energy Partners for a 2.5 GW renewable energy generation portfolio. The investment involves the acquisition of 50% of the portfolio from NextEra Energy Resources, comprising 13 utility-scale wind and solar assets with long-term power purchase agreements. Apollo aims to support the clean energy transition and expand its infrastructure investing platform. The transaction is expected to close in Q4 2021, subject to customary conditions.

Intrado, TSG Global, and WMC Global have collaborated to launch a blockchain identity solution aimed at enhancing security and privacy in enterprise communications. The initiative introduces Telephone Number ID (TNID), a patented technology that allows businesses to manage their phone numbers securely, while reducing telecom fraud and robocalls. This new system aligns with the objectives of the STIR/SHAKEN initiative, facilitating trusted communication for consumers who opt in.

Apollo (NYSE: APO) hosted its Investor Day on October 19, 2021, highlighting its strategic direction to achieve long-term financial targets. CEO Marc Rowan emphasized Apollo's strong growth trajectory backed by over three decades of investment expertise. The event featured a detailed presentation of the firm’s strategies aimed at accelerating growth and delivering substantial returns to stockholders. Presentation materials are available on Apollo’s website, and a replay will be accessible after the event.

Newfi, a technology-driven mortgage lender, has confirmed a definitive agreement to sell a majority interest to Athene from Warburg Pincus. The investment will be managed by Apollo. This deal aims to enhance Newfi's capabilities in the non-agency mortgage space and comes during a period of record earnings growth. Founder Steve Abreu will continue to lead the company, which boasts over $6 billion in originations. The transaction is expected to close in Q1 2022, pending regulatory approvals.

Apollo Global Management has appointed Roger W. Ferguson, Jr. as Vice Chairman, where he will advise on strategic asset management and retirement services. CEO Marc Rowan emphasized Ferguson’s leadership experience in the financial services sector, which includes managing TIAA through significant economic challenges and expanding its client base significantly. Ferguson aims to enhance deal origination and investor relations while supporting Apollo's growth strategy in the evolving financial sector. Apollo currently manages approximately $472 billion in assets.