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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.
Apollo Global Management (NYSE: APO) announced the expansion of its insurance asset management business through a $27 billion reinsurance deal by Athene Holding Ltd. (NYSE: ATH) with Jackson National Life Insurance Company. Athene will also acquire an 11% stake in Jackson via a $500 million investment. This transaction is expected to enhance Apollo's insurance-related assets under management, which grew to nearly $80 billion in Q1 2020. The deal is seen as immediately accretive and aligns with Apollo's growth targets in fee-related earnings over the next five years.
Tiger Merger Sub Co., an affiliate of Apollo Global Management, has extended the Expiration Date for its Tender Offers and Consent Solicitations related to Tech Data Corporation's senior notes to June 26, 2020. The offers involve 3.700% Senior Notes due 2022 and 4.950% Senior Notes due 2027. As of the previous Expiration Date, approximately 86.83% of the 2022 Notes and 73.79% of the 2027 Notes were validly tendered. The Tender Offers are linked to a merger agreement for acquiring Tech Data Corporation and are subject to specific conditions.
Apollo Global Management (NYSE: APO) announced that James Zelter, Co-President and Chief Investment Officer, Credit, will present at the Morgan Stanley Virtual US Financials Conference on June 9, 2020, at 1:00 pm ET. A live webcast of the presentation will be available on Apollo's Stockholders section of their website. A replay will also be accessible after the event. Apollo manages approximately $316 billion in assets as of March 31, 2020, focusing on credit, private equity, and real assets.
Tiger Merger Sub Co., affiliated with Apollo Global Management, has extended the expiration date for its tender offers and consent solicitations for Tech Data Corporation's senior notes. The new expiration is set for June 16, 2020. As of the previous deadline, approximately 86.83% of 2022 Notes and 73.78% of 2027 Notes were validly tendered. This initiative is part of a merger agreement where Tiger Midco, LLC will acquire Tech Data. The tendering process is subject to the merger's successful closing and other conditions.
Apollo Global Management (NYSE: APO) announced plans to offer senior notes via its subsidiary, Apollo Management Holdings, L.P. The notes will be guaranteed by multiple indirect subsidiaries and are intended for qualified institutional buyers under Rule 144A and Regulation S. Proceeds from the offering will be used for general corporate purposes. The notes have not been registered under the Securities Act and are subject to certain risks, including potential impacts from COVID-19 on operations and market conditions.
Intrado Corporation has announced free access to its Intrado Patient Messenger notification solution for hospitals in disadvantaged New York communities impacted by COVID-19. This initiative includes major healthcare networks such as MediSys Health Network and BronxCare, enhancing patient communication about symptoms, testing locations, and policies. The service can send up to 1,000 messages per second and supports multiple languages. Intrado aims to assist front-line hospitals through its foundation, reflecting its commitment to corporate social responsibility under Apollo Global Management.
Apollo Global Management (NYSE: APO) announced that Marc Rowan, Co-Founder and Senior Managing Director, will present at the Bernstein Strategic Decisions Conference on May 28, 2020, at 1:00 p.m. ET. A live audio webcast of the presentation will be accessible on Apollo’s Stockholders website, with a replay available shortly after the event for those unable to attend live.
Apollo is a leading global alternative investment manager, managing approximately $316 billion in assets across various sectors as of March 31, 2020.
Apollo Global Management (NYSE: APO) announced the closure of approximately $1.75 billion in commitments for its latest investment vehicle, Apollo Accord Fund III B. Launched in response to the market volatility during Q1 2020, the fund aims to capitalize on mispriced credit risks. Over a span of 8 weeks, strong institutional demand facilitated these commitments. The Firm continues to emphasize its strategy of providing liquidity in stressed markets, focusing on high-quality, secured cross-asset credit.
Apollo Global Management has announced a significant investment of $1.75 billion in convertible preferred stock of Albertsons Companies, equating to approximately 17.5% equity ownership. This transaction, led by Apollo’s Hybrid Value business, is anticipated to close by June 15, 2020, pending customary conditions. This move reflects Apollo's confidence in Albertsons' resilient business model and strategic growth plans. Since the beginning of 2020, Apollo has invested over $50 billion across various sectors, including more than $1 billion in recent transactions with notable companies.
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