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.
Apollo Global Management (NYSE: APO) has announced its upcoming Investor Day scheduled for Tuesday, October 1, 2024. The event, aimed at the investment community, will feature presentations by senior leaders focusing on Apollo's strategic priorities. Starting at 8 a.m. ET, the day will include a series of presentations followed by a Q&A session.
A live webcast of the event will be accessible to the public and media through Apollo's Investor Relations website at ir.apollo.com. For those unable to attend, a replay will be available on the website after the event concludes. Interested parties with questions about the 2024 Investor Day can contact Apollo Investor Relations at IR@apollo.com.
State Street Global Advisors, part of State Street (NYSE: STT), and Apollo Global Management (NYSE: APO) have announced a collaboration to expand investor access to private market opportunities. This partnership aims to democratize access to private assets, which have nearly tripled in the last decade. The initiative will focus on making private market investments more accessible through ETFs and other investment products advised by State Street Global Advisors.
Key points:
- Private assets are one of the fastest-growing sectors in finance
- The partnership combines strengths of two market leaders
- Goal is to increase accessibility to private markets for a wider range of investors
- Focus on private investment grade credit and other private fixed income and equity strategies
- Apollo reported over $145 billion of origination in the last twelve months as of June 30, 2024
Apollo (NYSE: APO) has announced its agreement to acquire Beequip, a leading Dutch equipment leasing specialist, from NIBC. Beequip, founded in 2015, has grown to become a major independent equipment financing company in the Netherlands, with a current portfolio of €1.4 billion and €700 million of annual run-rate originations. The acquisition will enhance Apollo's European equipment finance platform, established in 2018 with UK-based Haydock Finance.
Beequip specializes in financing and leasing solutions for new and used heavy equipment across various sectors. The transaction, expected to close by the end of 2024, aligns with Apollo's strategy of focusing on high-quality, secured credit generation across corporate and consumer categories. Apollo reported record debt origination volumes of $92 billion in the first half of 2024 and $146 billion for the 12-month period ending June 30, 2024.
Apollo (NYSE: APO) has announced that Scott Kleinman, Co-President of Apollo Asset Management, will participate in a fireside chat at the Barclays 22nd Annual Global Financial Services Conference. The event is scheduled for Tuesday, September 10, 2024, at 9:00 am ET.
Investors and interested parties can access a live webcast of the event through Apollo's Investor Relations website at ir.apollo.com. For those unable to attend the live session, a replay will be made available shortly after the event concludes.
This participation highlights Apollo's engagement with the financial services industry and provides an opportunity for investors to gain insights into the company's strategies and outlook.
Gannett Co., Inc. (NYSE: GCI) has entered into a commitment letter for a comprehensive debt refinancing plan. The plan includes a new senior secured credit facility of up to $900 million with Apollo Funds, comprising an initial term loan of $675 million and a delayed draw facility of $225 million. The refinancing aims to:
1. Extend debt maturities
2. Reduce future dilution from 6.0% Senior Secured Convertible Notes due 2027
3. Repay existing term loan and 2026 Notes
4. Repurchase up to 50% of outstanding 2027 Notes
Apollo Funds will exchange $441 million of 2027 Notes, with 50% in cash and 50% for new 2031 Notes. The transactions are expected to close later this fall, subject to approvals and conditions.
Apollo-managed funds and Rettig Oy Ab have completed the acquisition of a 94.53% stake in Purmo Group Plc, a leader in sustainable indoor-climate solutions. The transaction, executed through Project Grand Bidco (UK) , will result in Apollo funds owning 80% and Rettig 20% of Purmo Group after delisting from Nasdaq Helsinki. Shareholders received €11.06 per C share, while Rettig received €10.53 per C share. The acquisition aims to accelerate Purmo Group's growth strategy and support its role in the clean energy transition. This deal aligns with Apollo's focus on energy transition and sustainability-related investments, which have totaled over $40 billion in the last five years.
Apollo (NYSE: APO) has announced a $600 million investment to acquire a 50% interest in a joint venture entity related to the Vale Oman Distribution Center (VODC) from Vale S.A. The VODC operates a maritime terminal in Sohar, Oman, featuring a deep-water jetty and an iron ore blending and distribution center with a 40 Mtpy capacity. This strategic move allows Apollo to finance critical supply chain infrastructure and provide its clients with access to high-grade securities. The transaction is expected to close in the second half of 2024, subject to regulatory approvals.
Apollo Global Management (NYSE: APO) reported record fee related earnings in Q2 2024, driven by strong performance in Asset Management. The company achieved record levels of quarterly debt origination, gross capital deployment, and third-party fundraising excluding flagship private equity. In Retirement Services, Athene's profitability attracted significant third-party capital, supporting continued growth following the successful ADIP II fundraise. Apollo declared a cash dividend of $0.4625 per share of Common Stock, payable on August 30, 2024, and a cash dividend of $0.8438 per share of Mandatory Convertible Preferred Stock, payable on October 31, 2024. The company will host a public audio webcast on August 1, 2024, at 8:30 a.m. Eastern Time to review Q2 2024 financial results.
U.S. Silica Holdings, Inc. (SLCA) has been acquired by funds managed by affiliates of Apollo (NYSE: APO) in a previously announced transaction. The company will continue to operate under the U.S. Silica name and brand, with Bryan Shinn and the existing executive team remaining in leadership roles. As part of the deal, shareholders will receive $15.50 per share in cash for each share of U.S. Silica common stock owned. Following the transaction completion, U.S. Silica's common stock has ceased trading on the New York Stock Exchange.
The acquisition marks a new chapter for U.S. Silica, a diversified minerals company and leading last-mile logistics provider to the oil and gas industry. Both parties express optimism about future growth opportunities, with Apollo highlighting U.S. Silica's high-quality reserve base and culture of innovation as key strengths.
Nokomis Energy has secured a $30 million investment from Great Bay Renewables, a leading renewable energy investor. This funding will enable Nokomis to expand its portfolio of distribution-sited projects across the Midwest, focusing on delivering clean, competitive electricity on the distribution grid. The partnership aims to replicate Great Bay's success in supporting utility-scale project developers in the distributed generation sector.
Brendan Dillon, Co-Founder and President of Nokomis Energy, emphasized the investment's impact on their ability to deploy distributed generation projects in established and emerging markets. Frank Getman, CEO of Great Bay, highlighted Nokomis' track record of commercializing over 45 projects in Minnesota and surrounding areas, marking Great Bay's first dedicated investment in the distributed solar market.
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