STOCK TITAN

Apollo Global Management, Inc. - APO STOCK NEWS

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.

Rhea-AI Summary

Apollo (NYSE: APO) has announced a $700 million capital solution for Sony Music Group, an affiliate of Sony Group This investment, made on behalf of Apollo's affiliated and third-party insurance clients and other investors, is aimed at supporting Sony's investments in the music industry. Apollo Partner Jamshid Ehsani stated that this bespoke capital solution allows their clients to invest in high-grade securities while assisting Sony in executing its business plans. The deal showcases Apollo's ability to provide tailored financial solutions to major corporations in the entertainment sector.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.41%
Tags
none
-
Rhea-AI Summary

IGT and Everi have announced a significant change to their previously announced merger plans. Instead, both IGT's Gaming & Digital business (IGT Gaming) and Everi will be simultaneously acquired by Apollo Global Management in an all-cash transaction valued at approximately $6.3 billion. Under the new agreement:

- Everi stockholders will receive $14.25 per share in cash, a 56% premium over the July 25, 2024 closing price.
- IGT will receive $4.05 billion in gross cash proceeds for IGT Gaming.
- The transaction is expected to close by the end of Q3 2025, subject to regulatory approvals and Everi stockholder approval.

This deal replaces the previously announced spin-off and merger between IGT Gaming and Everi. Post-closing, IGT will become a pure-play lottery business, while IGT Gaming and Everi will operate as privately owned companies under Apollo's ownership.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.41%
Tags
-
Rhea-AI Summary

Apollo (NYSE: APO) has announced that Apollo-managed funds will acquire Evri, one of the UK's largest parcel delivery companies, from Advent International. Evri, which rebranded in 2022, has become a key leader in parcel delivery, serving an average of 12 million customers per week and reaching nearly every UK household. The company is known for its innovative model, technology, and infrastructure designed for reliable, lower emissions delivery in the e-commerce market.

Apollo Private Equity Partner Alex van Hoek expressed enthusiasm about partnering with Evri's management team to support the company's continued success and expansion. Evri CEO Martijn de Lange highlighted the company's transformative changes and focus on on-time delivery and environmental responsibility. The transaction is expected to close in the third quarter of 2024, with financial terms undisclosed.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.05%
Tags
Rhea-AI Summary

U.S. Silica Holdings (NYSE: SLCA) announced that its stockholders have approved the previously announced acquisition by funds managed by Apollo (NYSE: APO) affiliates. The all-cash transaction, referred to as the Merger, received approval from over 75% of the company's outstanding shares at a special meeting held on July 16, 2024. Approximately 78% of the company's outstanding shares were voted at the meeting. The closing of the Merger is still subject to the terms and conditions of the agreement but is expected to occur before the end of the current quarter. U.S. Silica, a diversified industrial minerals company and leading last-mile logistics provider to the oil and gas industry, will file the final voting results in a Current Report on Form 8-K with the SEC.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.27%
Tags
-
Rhea-AI Summary

Apollo (NYSE: APO) and The Travel (TTC) have announced a definitive agreement for Apollo-managed funds to acquire TTC, a privately owned company with over a century of operation. The deal includes 18 leading travel brands such as Trafalgar, Uniworld Boutique River Cruises, Contiki, and Insight Vacations. Apollo aims to leverage its experience in travel, tech, and hospitality to enhance TTC's brand portfolio. The transaction, expected to close in Q4 2024, is subject to regulatory approvals. Financial terms were not disclosed, and certain brands like The Red Carnation Hotel Collection are not included in the sale. This strategic move aligns with TTC's succession plan, as there is no next generation to lead the company.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.22%
Tags
-
Rhea-AI Summary

IHI Power Services Corp. (IPSC) has secured asset management contracts with Doral Renewables for two significant renewable energy projects: the Mammoth North Solar Project in Starke County, Indiana, and the Great Bend Solar Project in Meigs County, Ohio. Mammoth North, a 400 MW facility, is the first phase of the $1.5 billion Mammoth Solar Project, expected to be operational in Q3 2024. The Mammoth Solar Project will ultimately generate 1.3 GW, supporting 275,000 homes. Great Bend, a 48 MW plant, will begin construction this year and is slated to be operational by the end of 2025, contributing $400,000 in annual tax revenue and bolstering local economies.

Doral is developing over 13 GW of renewable projects nationwide, with $2.5 billion in long-term power purchase agreements. IPSC's asset management expertise aligns with Doral's sustainability goals, making this partnership vital for optimizing renewable assets and promoting sustainable communities.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.37%
Tags
none
Rhea-AI Summary

Apollo (NYSE: APO) will release its financial results for the second quarter of 2024 on August 1, 2024, before the NYSE trading starts. Management will discuss the results during a public webcast at 8:30 am ET, accessible via Apollo’s Investor Relations website. A replay will be available one hour post-event. Apollo disseminates its earnings releases through its website and email lists. Interested parties can subscribe for email updates.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.06%
Tags
-
Rhea-AI Summary

Apollo (NYSE: APO) released its Annual Sustainability Report: Volume 15, titled “Driving a More Sustainable Future,” on June 24, 2024. Highlights include the deployment, commitment, or arrangement of $10 billion towards clean energy and climate investments in 2023, aiming toward a $50 billion target by 2027. Additionally, Apollo committed $5.2 million in grants to 22 organizations through the Apollo Opportunity Foundation, an increase from $3 million last year. The report outlines Apollo's sustainability strategy and progress, with insights from Scott Kleinman, Co-President, and Dave Stangis, Chief Sustainability Officer, emphasizing Apollo's dedication to sustainability, decarbonization, and providing flexible capital solutions. The report also includes voluntary disclosures guided by SASB, GRI, UN SDGs, and TCFD recommendations.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.42%
Tags
none
-
Rhea-AI Summary

Intel and Apollo have entered into a $11 billion joint venture for Intel's Fab 34 in Ireland. Apollo will acquire a 49% equity stake, while Intel retains 51% control. This is Intel's second SCIP arrangement, enhancing financial flexibility and supporting global manufacturing strategy. Fab 34, a state-of-the-art facility, began manufacturing processors in September 2023. The deal, expected to close by Q2 2024, allows Intel to redeploy capital and maintain its credit rating. Intel will continue to manage Fab 34 and fulfill wafer production commitments for itself and foundry customers.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.11%
Tags
none
Rhea-AI Summary

Pershing Square Capital Management (PSCM) has announced the sale of a 10% common equity interest in Pershing Square Holdco, a new partnership owning 100% of PSCM, for $1.05 billion to strategic investors including Arch Capital Group (ACGL). This sale involves an internal reorganization of PSCM's ownership structure, resulting in a deemed assignment under the Investment Advisers Act of 1940. The reorganization has been approved by the Pershing Square Holdings (PSH) board, ensuring no changes to PSCM's management team or its investment management role. Furthermore, an independent Board of Directors has been established. Bill Ackman remains the largest shareholder of the controlling The transaction aims to accelerate growth in assets under management and maintain high long-term returns for investors.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.34%
Tags
none

FAQ

What is the current stock price of Apollo Global Management (APO)?

The current stock price of Apollo Global Management (APO) is $174.85 as of December 24, 2024.

What is the market cap of Apollo Global Management (APO)?

The market cap of Apollo Global Management (APO) is approximately 98.9B.

What does Apollo Global Management do?

Apollo Global Management specializes in managing investments in private equity, credit, and real estate. They also manage retirement services through Athene.

How much in assets does Apollo Global Management manage?

As of December 31, 2023, Apollo manages approximately $651 billion in assets.

What sectors does Apollo Global Management invest in?

Apollo invests in various sectors including chemicals, manufacturing, natural resources, consumer services, financial services, leisure, media, and technology.

What recent partnerships has Apollo Global Management formed?

Apollo recently partnered with MassMutual, making it a minority equity owner in ATLAS SP Partners. They also entered into a strategic acquisition with Panasonic Automotive Systems Corporation.

What is a significant recent investment by Apollo Global Management?

Apollo recently acquired U.S. Silica Holdings, Inc. for $1.85 billion, further diversifying its investment portfolio.

What is Apollo Global Management's investment philosophy?

Apollo employs a contrarian, value-oriented investment approach with significant expertise in distressed assets.

What is the primary revenue segment for Apollo Global Management?

The majority of Apollo's revenue comes from its Retirement Services segment through Athene.

How does Apollo Global Management support renewable energy?

Apollo has invested in renewable energy projects, such as Great Bay Renewables’ $10.1 million facility with Hexagon Energy for solar developments.

What distinguishes Apollo Global Management from other investment managers?

Apollo's integrated business model allows for seamless capital deployment across a diverse portfolio, setting it apart from other investment managers.

How does Apollo Global Management maintain financial strength?

Apollo maintains financial strength through strategic acquisitions, partnerships, and a focus on innovative capital solutions.

Apollo Global Management, Inc.

NYSE:APO

APO Rankings

APO Stock Data

98.93B
414.39M
26.66%
61.49%
4.8%
Asset Management
Investment Advice
Link
United States of America
NEW YORK