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.
Spartan Acquisition Corp. III has successfully completed its initial public offering (IPO), raising $552 million by offering 55,200,000 units at $10.00 each. This includes a full option exercise by underwriters for an additional 7,200,000 units. The units, trading under the symbol 'SPAQ.U', consist of one share of Class A common stock and a redeemable warrant. The transaction was managed by Credit Suisse, Citigroup, and Cowen. Spartan aims to focus on mergers and acquisitions in North America's energy sector, specifically targeting energy transition and sustainability.
Intrado Corporation has launched the Emergency Data Broker, a groundbreaking solution that enhances information delivery between IoT devices and 911 emergency responders. This innovation aims to expedite the dispatch process during emergencies by providing critical data without requiring upgrades to existing 911 infrastructure. Partnering with several IoT service providers, Intrado's platform facilitates the rapid access of incident information to dispatchers. The initiative seeks to improve public safety by leveraging IoT data to save lives and protect property.
Apollo Global Management announced a commitment to invest up to $470 million of preferred equity in US Acute Care Solutions (USACS), aiming to facilitate a full recapitalization of the company while maintaining physician ownership. This investment will allow USACS to expand its operations and enhance growth opportunities. Apollo will also appoint two representatives to USACS' Board of Directors. The transaction is subject to customary closing conditions and is expected to finalize in Q1 2021.
On February 8, 2021, Spartan Acquisition Corp. III announced the pricing of its IPO, offering 48 million units at $10.00 each. The units will trade on the NYSE under the symbol 'SPAQ.U' from February 9, 2021. Each unit includes one share of Class A common stock and one-fourth of a redeemable warrant, allowing purchase of additional stock at $11.50. The offering closes on February 11, 2021. Underwriters, including Credit Suisse and Citigroup, may purchase an additional 7.2 million units. Spartan focuses on energy value chain opportunities in North America, aligned with sustainability themes.
Spartan Acquisition Corp. III has initiated its IPO, offering 40 million units at $10 each, with an option for underwriters to purchase up to 6 million additional units. Each unit includes one share of Class A common stock and a quarter warrant for future purchase at $11.50. The offering will trade on the NYSE under the ticker 'SPAQ.U.' Managed by Credit Suisse, Citigroup, and Cowen, this IPO aims to focus on the energy sector in North America, particularly aligned with energy transition and sustainability themes. The registration with the SEC is pending effectiveness.
Apollo Global Management (NYSE: APO) reported strong results for the fourth quarter and full year ended December 31, 2020, with assets under management (AUM) increasing by $124 billion, or 38%, to $455 billion. The firm declared a cash dividend of $0.60 per Class A share for Q4, payable on February 26, 2021. Apollo is enhancing corporate governance and has named Marc Rowan as the new CEO. Despite market volatility, Apollo achieved record inflows and investments, showcasing the resilience of its business model.
Apollo Global Management (NYSE: APO) has announced its first private equity investment in Japan by acquiring the Aluminum Can and Aluminum Rolling Businesses from Showa Denko K.K. The deal represents a strategic move to tap into high-quality assets with growth potential in Japan and Asia. Apollo aims to leverage its expertise in metals and packaging to unlock value and support the management team in the future growth of the business. The transaction is expected to close by August 2021, pending regulatory approvals.
Apollo Global Management (NYSE: APO) announced the completion of an independent review by its Conflicts Committee regarding Chairman and CEO Leon Black's past relationship with Jeffrey Epstein. The review, conducted by law firm Dechert LLP, found that Apollo never hired Epstein for services, nor did he invest in Apollo-managed funds. Black engaged Epstein for legitimate trust and estate planning advice, supported by vetted professionals. The report, which reviewed over 60,000 communications and interviewed more than 20 individuals, found no link between Black and Epstein's criminal activities. The findings align with Apollo's prior statements.
Apollo Global Management announced significant leadership changes, with Leon Black set to retire as CEO by July 31, 2021. He will remain Chairman while Marc Rowan is appointed as the new CEO. The Board will expand with four new independent directors, including Pamela Joyner and Siddhartha Mukherjee, effective March 1, 2021. The company is also considering a simplified voting structure and governance changes to enhance shareholder alignment. Notably, Apollo’s assets under management increased by $22 billion to $455 billion, indicating strong growth prospects.
Intrado Corporation announced its new Lobby Experience feature, enhancing its Digital Media solutions. This innovation allows marketers to create branded pre- and post-webcast virtual lobbies, improving audience engagement. The Lobby offers interactive tools such as downloadable content, Q&A capabilities, and social media integration. This technology aims to transform standard webcasts into interactive experiences, reflecting Intrado's commitment to digital transformation in event management. The company, controlled by Apollo Global Management (NYSE: APO), continues to innovate in the digital services space.
FAQ
What is the current stock price of Apollo Global Management (APO)?
What is the market cap of Apollo Global Management (APO)?
What does Apollo Global Management do?
How much in assets does Apollo Global Management manage?
What sectors does Apollo Global Management invest in?
What recent partnerships has Apollo Global Management formed?
What is a significant recent investment by Apollo Global Management?
What is Apollo Global Management's investment philosophy?
What is the primary revenue segment for Apollo Global Management?
How does Apollo Global Management support renewable energy?
What distinguishes Apollo Global Management from other investment managers?
How does Apollo Global Management maintain financial strength?
