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 (APO) generates news across multiple dimensions of its alternative investment operations, from major acquisitions and capital deployment to strategic partnerships and corporate developments. As a significant participant in the private equity, credit, and real estate markets, the firm's transaction announcements often involve substantial capital commitments and complex deal structures that impact industries ranging from technology infrastructure to sports franchises.
The news flow from Apollo typically includes portfolio company acquisitions, fund closings and capital raises, debt issuances to support operations, quarterly earnings reports detailing assets under management and fee revenue, and strategic initiatives across its business segments. Investment professionals and analysts follow Apollo's news to understand trends in alternative asset deployment, valuations in private markets, and the firm's strategic direction across different economic environments.
Apollo's involvement in high-profile transactions and partnerships means its news often extends beyond traditional financial metrics to include operational developments at portfolio companies, leadership appointments in key roles, and collaborations with other institutional investors on large-scale projects. The firm's activities in distressed and special situations investing also generate news related to restructurings, debt exchanges, and corporate transformations that provide insight into stressed credit markets.
This news page provides comprehensive coverage of Apollo's material developments, from SEC filings and earnings releases to transaction announcements and strategic updates. Following Apollo's news helps investors understand the firm's capital allocation decisions, performance across business segments, and positioning within the competitive alternative investment landscape.
Apollo (NYSE: APO) announced the first close of its acquisition of Griffin Capital's wealth distribution business, now part of Apollo Global Wealth. The acquisition adds approximately 60 distribution professionals and enhances Apollo's reach in the wealth management sector, particularly in the independent channel. Cory Calvert will lead the Independent Broker Dealer for US Global Wealth. The transaction is expected to finalize by Q2 2022, pending approval from Griffin's stockholders. This move aligns with Apollo's strategy to expand its wealth management capabilities.
Brightspeed has announced the signing of a lease agreement for its corporate headquarters in Charlotte, North Carolina, set to occupy over 27,000 square feet in the Vantage South End building by the fourth quarter of 2022. This location will facilitate corporate functions like legal, marketing, and finance while supporting a network build across 20 states. The company plans to hire over 100 local employees. Brightspeed is investing $2 billion to enhance internet infrastructure, aiming to reach up to 3 million homes and businesses in five years, using acquired assets from Lumen Technologies (NYSE: LUMN).
Apollo (NYSE: APO) has launched a sustainable investing platform, aiming to deploy $50 billion in clean energy and climate capital over the next five years, with a potential for over $100 billion by 2030. This initiative focuses on energy transition and decarbonization, capitalizing on Apollo's extensive experience in relevant sectors. Headed by Olivia Wassenaar, the platform seeks to reduce median carbon intensity by 15% on new control investments. Apollo's past investments in clean energy exceed $19 billion, underscoring its commitment to sustainability and strategic growth.
VICI Properties Inc. has successfully acquired the Venetian Resort Las Vegas for $4.0 billion, achieving a 6.25% cap rate. The transaction is financed through proceeds from share sales, a $600 million credit line, and cash reserves. This acquisition increases annual rent by $250 million under a 30-year lease with Apollo Global Management, which includes a rent escalation clause. The Venetian features extensive gaming, hospitality, and convention facilities, solidifying VICI's portfolio as a premier player in experiential real estate.
Apollo Global Management has successfully acquired The Venetian Resort and Venetian Expo in Las Vegas from Las Vegas Sands Corp. for approximately $2.25 billion. This transaction, initially announced in March 2021, positions Apollo to invest in enhancing guest experiences at this iconic property. Concurrently, the Apollo Funds entered a long-term, triple net lease agreement with VICI Properties, which purchased the associated land and real estate assets for $4.0 billion. This acquisition aims to capitalize on the Las Vegas recovery and growth potential.
Tenneco reported a 17% increase in total revenue for 2021, reaching $18.0 billion. Adjusted net income improved to $164 million, or $1.97 per diluted share, compared to a loss in 2020. However, Q4 revenue fell 6% year-over-year, totaling $4.4 billion, with a net loss of $35 million. The company achieved significant liquidity of $2.3 billion and improved its net leverage ratio to 1.0x. Tenneco has canceled its earnings call following a definitive acquisition agreement with Apollo and will not provide financial guidance for 2022 due to the pending transaction.
Tenneco (NYSE: TEN) has agreed to be acquired by Apollo (NYSE: APO) in an all-cash deal valued at approximately $7.1 billion, including debt. The acquisition offers Tenneco shareholders a purchase price of $20.00 per share, marking a notable 100.4% premium over the closing price on February 22, 2022. The transaction has been approved by Tenneco's Board and is expected to close in the second half of 2022, pending shareholder and regulatory approvals. Tenneco will continue to operate under its brand as a private company post-acquisition.
Apollo has launched the Apollo Opportunity Foundation, committing over $100 million to promote educational access, workforce development, and economic empowerment over the next decade. This initiative aims to eliminate barriers for underrepresented individuals and is supported by Apollo employees who will assist in nominating and evaluating organizations for funding. The Foundation aligns with Apollo's commitment to corporate citizenship and community engagement, building on previous efforts to diversify the alternative investment industry and promote career opportunities.
Apollo (NYSE: APO) has expanded its global partnership with Mubadala Investment Company to enhance its Capital Solutions business. This collaboration will enable Apollo to originate transactions across various asset classes, addressing market demand for tailored financing solutions. The partnership aims to accelerate Apollo's origination target over the next five years and will leverage Mubadala's expertise and resources. This initiative is expected to increase Apollo's relevance and transaction scale in the financing ecosystem, reinforcing its role as a preferred counterparty for corporate borrowers.
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