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.
Intrado Corporation has released its 2020 Benchmark Report for Webcasts and Virtual Events, revealing substantial impacts of COVID-19 on the industry. Key findings include a 360% increase in the number of webcasts and virtual events, with over 1.8 billion minutes viewed on its platform, a 350% increase from 2019. Gamification saw a 995% growth with over 1.3 million games played. Virtual booth visits surged by 472% year-over-year. Intrado's president anticipates continued growth in virtual events as they merge with physical formats.
Great Canadian Gaming Corporation has entered a definitive agreement with Apollo Funds, managed by Apollo Global Management (NYSE: APO), for the acquisition of all outstanding shares at C$39.00 per share, valuing the deal over C$3.3 billion. This price represents a 59% premium over the 30-day VWAP. The Board unanimously approved the deal, citing it as the best option for shareholders. Apollo aims to enhance Great Canadian's operations, expand its gaming and hospitality offerings, and support its successful reopening post-COVID-19 with a commitment to community involvement.
PK AirFinance, managed by Apollo Global Management (NYSE: APO), has appointed Eelco van de Stadt as President, effective January 2021. This decision follows the retirement of Per Waldelof, who led the company for 25 years. Van de Stadt brings extensive experience in aviation finance, having previously held senior positions at MUFG and DVB Bank. PK AirFinance currently manages a portfolio valued at $4.5 billion, supporting over 94 operators in 51 countries. Apollo’s strategy involves leveraging PK’s capabilities for growth and achieving attractive risk-adjusted returns for investors.
Apollo Global Management (NYSE: APO) announced that co-founder Josh Harris will present at the Bank of America Securities 2020 Future of Financials Virtual Conference on November 10, 2020, at 10:30 am ET. A live webcast of the presentation will be accessible in the Stockholders section of Apollo's website. The company had assets under management of approximately $433 billion as of September 30, 2020, across various sectors. A replay of the event will be available post-presentation on their website.
Apollo Global Management (NYSE: APO) reported strong Q3 2020 results, with total assets under management increasing to $433 billion, up $102 billion since 2019. The company declared a cash dividend of $0.51 per share for the third quarter, with a year-to-date total of $1.42. Key growth was attributed to significant transactions, organic development for insurance clients, and capital raising. Despite market challenges, Apollo's management emphasized its resilience and strong operational capabilities.
Intrado Corporation announced the sale of its Health Advocate business to Teleperformance for $690 million. This decision follows a strategic review aimed at focusing on Intrado's cloud businesses. The transaction is set to close in the first quarter of 2021 pending regulatory approvals. This sale is anticipated to allow Health Advocate to thrive under Teleperformance's operational excellence, aligning with its focus on personalized customer experience. Goldman Sachs and Triple Tree advised Intrado on this transaction.
Apollo Global Management (NYSE: APO) has acquired a US telecommunications platform from Lendlease, rebranding it as Parallel Infrastructure. This platform includes nearly 500 operational cell towers and a pipeline of additional towers under development. Major US carriers like AT&T, Verizon, and T-Mobile are key customers. The acquisition aligns with Apollo's expertise in corporate carve-outs and aims to support the growing demand for data and 5G networks in the US. The deal enhances Apollo's infrastructure investment track record, which exceeds $20 billion.
Apollo Global Management (NYSE: APO) announced a joint venture with Altius Minerals Corporation to enhance renewable energy investment in North America. The Apollo Funds plan to invest up to $200 million for a potential 50% stake in Great Bay Renewables, which has already allocated over $60 million to renewable projects. This venture aims to capitalize on the growing demand for renewable energy, particularly in wind, solar, and energy storage. Apollo's infrastructure strategy aims to establish leadership in renewable royalties and support sustainability goals.
Intrado Corporation has launched Hoot Meetings, a video-first online meeting tool designed for modern workplaces. Utilizing browser-based Web RTC technology, it offers seamless audio, video, and web experiences without the need for downloads. The solution emphasizes security at every level, catering to the recent increase in remote work. Intrado aims to expand its UCaaS portfolio to serve midmarket and smaller organizations globally. Hoot Meetings leverages Intrado's global cloud audio network, ensuring reliable audio access regardless of location.
Intrado Corporation announced the launch of new features for its virtual event platform, enhancing attendee interaction. Key additions include scheduled breakout rooms for group discussions and 1:1 video chat capabilities, aimed at fostering more personal engagement. President Ben Chodor highlighted that these upgrades are crucial as events transition online. The platform supports up to 200,000 attendees and offers comprehensive analytics, branding options, and gamification, reinforcing Intrado's commitment to delivering impactful virtual experiences.
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