Apollo Global Management, Inc. - APO STOCK NEWS

Apollo Global Management has announced an agreement to acquire The Venetian Resort and Sands Expo and Convention Center for $2.25 billion. VICI Properties will purchase the real estate assets for $4.0 billion, totaling $6.25 billion. The acquisition positions Apollo to leverage its expertise in hospitality and gaming as the sector rebounds from COVID-19. Apollo’s investment strategy includes no third-party debt, and the transaction is expected to close by Q4 2021, enhancing the potential for growth at this iconic Las Vegas resort.

Apollo Global Management has established an Impact Advisory Committee to enhance its impact investing strategy. Chaired by Lisa Hall, the Committee consists of 11 experts from various fields. Their role is to guide Apollo’s impact objectives and amplify portfolio performance in areas like Economic Opportunity, Education, and Climate Sustainability. The Committee aims to leverage its diverse expertise to drive positive changes across Apollo’s portfolio companies.

DISH Network Corporation has entered an agreement with Intrado Corporation for 911 call routing, marking a significant step in DISH's deployment of its cloud-native 5G wireless service. This partnership ensures reliable emergency response capabilities as DISH rolls out its unique 5G network across the U.S. Jeff McSchooler, DISH's EVP, emphasized the importance of Intrado's reputation in providing robust 911 solutions. Intrado manages over 60% of 911 call routing in North America, reinforcing the reliability of DISH's new services for customers.

Intrado Corporation has been chosen by the Florida Department of Education for its Intrado Safety Shield™ solution, enabling compliance with Alyssa’s Law, which requires K-12 schools to implement mobile panic alert systems. This solution meets all statutory requirements and enhances school safety through various capabilities, including real-time coordination with emergency services. Florida has allocated $8 million for this initiative, allowing schools to select from approved vendors. Intrado's established role in 911 services positions it as a trusted provider in the education sector.

Flowroute, a solution of Intrado Corporation, has been recognized as the top-ranked SIP trunk vendor in customer satisfaction by Eastern Management Group for the third consecutive year. The evaluation included over 4,000 IT managers assessing 29 vendors across 12 factors, where Flowroute excelled with four-star ratings across nearly all categories. Its HyperNetwork™ solution enhances call quality and reliability with a programmable and scalable infrastructure, fulfilling carrier-grade demands.

Apollo Global Management (NYSE: APO) announced that co-founder Marc Rowan will present at the Credit Suisse Financial Services Forum on February 24, 2021, at 1:50 p.m. ET. The presentation will be available via a live audio webcast on Apollo's Stockholders section of their website. A replay will be accessible shortly after the event for those unable to attend live. Apollo, a leading global alternative investment manager, had $455 billion in assets under management as of December 31, 2020, specializing in credit, private equity, and real assets across nine industries.

Apollo Global Management announced the appointment of Jay Clayton as Lead Independent Director, effective March 1, 2021. Clayton's extensive experience includes serving as SEC Chair from 2017-2020, focusing on market integrity and investor protection. His appointment aligns with Apollo's ongoing governance enhancements, alongside the addition of independent directors Pamela Joyner and Siddhartha Mukherjee. The firm aims to improve shareholder structure and governance standards, including evaluating a one share/one vote structure.

Apollo Global Management (NYSE: APO) and Athene Holding Ltd. (NYSE: ATH) announced the sale of their subsidiary AmeriHome Mortgage Company to Western Alliance Bancorporation (NYSE: WAL). This strategic move follows AmeriHome's significant growth from inception in 2013 to becoming the nation's third-largest correspondent mortgage acquirer, with a servicing portfolio of $98.8 billion as of December 31, 2020. The purchase price reflects approximately 1.4 times AmeriHome's adjusted tangible book value. The transaction is expected to close in Q2 2021, pending regulatory approvals.

Apollo Global Management (APO) has successfully closed on approximately $2.34 billion in commitments for its Apollo Accord Fund IV, raising total assets to $4.1 billion over the past ten months. Fund IV investors include existing limited partners and new global institutions seeking credit investments during market volatility. Apollo's Accord strategy serves as a liquidity provider, focusing on high-quality secured credit risk. With over $6.3 billion in assets under management for dislocation opportunities, Apollo positions itself to capitalize on market volatility.