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) delivers alternative asset management solutions through private equity, credit strategies, and retirement services. This dedicated news hub provides investors with essential updates on corporate developments, strategic initiatives, and market positioning.
Access real-time announcements including earnings reports, merger & acquisition activity, leadership updates, and partnership agreements. Our curated collection ensures stakeholders stay informed about APO's global investments across industries like technology, natural resources, and financial services.
Key updates cover capital deployment strategies, retirement services innovations through Athene, and cross-sector investment performance. Bookmark this page for reliable information directly supporting informed analysis of APO's market activities and long-term value creation.
Apollo Global Management announced the promotion of Stephanie Drescher to Chief Client and Product Development Officer, alongside the establishment of a Global Wealth Management Solutions (GWMS) vertical. This new division aims to expand access to private markets for individual investors. CEO Marc Rowan highlighted the firm's strategy to enhance its wealth management channel, addressing the under-penetration of alternatives among individuals. The firm also plans to bolster wealth management distribution with recent hires, including Howard Nifoussi as Head of U.S. Wealth Management Distribution.
Apollo Global Management (NYSE: APO), alongside Merx Aviation, has finalized a sale and leaseback deal with Air France for two Boeing 777F aircraft. These aircraft, manufactured in 2009, enhance Apollo's aviation portfolio amid a surge in demand for international air freight. CEO Gary Rothschild highlighted the 777F's efficiency in transporting cargo over long distances. Merx operates a global fleet across 28 countries, emphasizing flexibility in capital solutions.
Apollo Global Management announced that Co-Founder Josh Harris will step down from day-to-day operations to focus on his investment and entrepreneurial activities. Harris will remain on the Board of Directors and Executive Committee. His transition coincides with Apollo's combination with Athene, expected to close in Q1 2022. Apollo CEO Marc Rowan praised Harris for his pivotal role in building the firm, which has $461 billion in assets under management and reported record fee-related earnings. Harris plans to develop his multi-asset-class investing business and philanthropic efforts.
Apollo Global Management has appointed Craig Farr as a Senior Partner to lead its capital solutions activities in a newly created role. He will oversee Apollo's centralized origination, structuring, and distribution platform. The firm aims to enhance its value generation for clients through less liquid investment opportunities, particularly in private assets, where it originated over $47 billion in 2020. With approximately $461 billion in assets under management, Apollo is focused on expanding its private asset origination capabilities.
Redbox has announced a merger with Seaport Global Acquisition Corp., marking its entry into public trading with an enterprise value of $693 million. Post-transaction, Redbox will list under the ticker RDBX. Shareholders, including Apollo Global Management, will retain 59% of equity. The merger aims to enhance Redbox's digital transformation and debt reduction, potentially increasing revenue through various entertainment models. The deal has received board approval and is set to close in Q3 2021, relying on $145 million from Seaport's trust account and a $50 million PIPE led by Ophir Asset Management.
Grupo Comercial Chedraui's subsidiary, Bodega Latina Corporation, has agreed to acquire Smart & Final Holdings from Apollo Global Management for approximately $620 million, including debt assumption. Smart & Final, operating over 250 stores across California, Arizona, and Nevada, generated $4.1 billion in revenue and $167 million in adjusted EBITDA for FY2020. The acquisition aims to expand Chedraui's U.S. footprint, enhance customer demographics, and achieve significant revenue growth, with a pro forma sales projection exceeding $11 billion. The deal is anticipated to be accretive to earnings in its first year.
On May 10, 2021, IGT completed the sale of its Italian B2C gaming machine, sports betting, and digital gaming businesses, represented by Lottomatica Videolot Rete S.p.A. and Lottomatica Scommesse S.r.l., to Gamenet Group S.p.A. for €950 million. The transaction includes an initial payment of €725 million, with additional payments scheduled for December 31, 2021, and September 30, 2022. IGT plans to utilize the funds to cover transaction expenses and reduce debt, enhancing its financial position.
Apollo Global Management (NYSE: APO) announced robust Q1 results with record GAAP earnings of $2.81 per share and fee-related earnings of $0.65, reflecting a 26% year-over-year increase. The private equity portfolio appreciated 22% in the quarter. Key milestones included the strategic merger announcement with Athene and advancements in their High Grade Alpha platform. Apollo declared a cash dividend of $0.50 per share, expected to be paid on May 28, 2021, with future quarterly dividends aimed to distribute substantial earnings to shareholders, post-merger.
Apollo Global Management has committed $600 million to support Standard Industries Holdings in acquiring W.R. Grace & Co. for approximately $7 billion. This investment comes from Apollo's Hybrid Value business, known for its expertise in the chemicals sector. The acquisition is expected to enhance Grace's growth potential within Standard's portfolio. The transaction is pending shareholder and regulatory approvals.
25madison has successfully closed its latest funding round, raising $60 million to date. Investors include Apollo Global Management (NYSE: APO) and Endeavor, strengthening its strategy to build early-stage companies. 25madison has achieved early successes with notable projects such as the disaster preparedness app harbor and the plant-based living platform The Beet. Apollo aims to leverage this partnership to create new revenue streams by investing in and co-incubating startups, enhancing market acceptance and reducing execution risk.
