Verizon will sell its media group to private equity firm Apollo Global Management for $5 billion, the companies announced Monday . Since its inception in 1990, Apollo has raised nine private equity funds, as follows: "Apollo Global Management, Inc. 2022 Form 10-K Annual Report", "Leon Black Leaves Apollo Sooner Than Expected", "Apollo's Josh Harris Talks Private Markets at Delivering Alpha", "Apollo's Marc Rowan Gives Wharton $50 Million for Professorships", "Apollo Global Management Investor Presentation", "Private Firms Use Closed-End Funds To Tap the Market", "Equity Firm Is Seen Ready to Sell a Stake to Investors", "Ex-Drexel Executives Arrange Aid for Fruit of the Loom", "The High Yield Bond Market: A Decade Of Assessment, Comparing 1990 With 2000", "Corporate Bond Defaults Up Sharply in '89", "Company News; Walter Industries' Bondholders in Accord", "Settlement For Walter Industries And Creditors", "E-II Revamps Debt Plan To Offset Offer by Icahn", "Washington Hopes 'Vulture' Investors Will Buy Bad Assets", "European Group Pressing Its Offer for Executive Life", "He Made Real Estate a Science: William L. Mack, W'61", Wharton School of the University of Pennsylvania, "DISCLOSURE STATEMENT WITH RESPECT TO THIRD AMENDED JOINT PLAN OF REORGANIZATION OF LEVITZ FURNITURE INCORPORATED AND ITS SUBSIDIARIES UNDER CHAPTER 11 OF THE BANKRUPTCY CODE", "HFS-Apollo in Real Estate Brokerage Venture", "Pillowtex to Acquire Fieldcrest for $400 Million", "Ares Management to Take New Fund Public", "A trash hauler is buying a much bigger rival, a type of deal that makes Wall Street a bit nervous", "For a Theater Chain, A Revival May Be Near", "Apollo Takes 20% Stake In Berlitz For $100 Million", "Apollo Affiliate Is Acquiring Clark's Store Operations", "Apollo Management Invests in Company That Is to Buy Firms That Counsel Rich", "Neptune Orient To Sell North American Train Network", "Corrected: For Sirius XM, small investors want bigger windfall", "Wyndham Receives $1 Billion From Investor Group", "Ares Management to Buy AREA Property Partners", "Private equity: the generational feud that rocked Apollo", "Apollo Global Management and Sterling Partners Acquires Connections Academy", "Manufacturer of Chemicals Agrees to Bid From Apollo", "In Private Equity, the Limits of Apollo's Power", "Apollo Management to Buy Rexnord in $1.83 Billion Deal", "South Korean companies complete acquisition of Momentive", "Opening Private Equity's Door, at Least a Crack, to Public Investors", "Apollo chief says sold nine percent of firm to Abu Dhabi", "AP Alternative Assets, L.P. Hexion announced in June 2008 it would refuse to close the deal, prompting a series of legal actions. Apollo has made 3 diversity investments. Yahoo Inc. is an American multinational Technology Company. Apollo Global Management, Inc. 2023 All Rights Reserved. Language links are at the top of the page across from the title. [23], In 1995, Apollo raised its third private-equity fund, Apollo Investment Fund III, with $1.5 billion of investor commitments from investors that included CalPERS and the General Motors pension fund. NEW YORK / MELBOURNE, AUSTRALIA - 8 September 2021 Apollo Global Management, Inc. (NYSE: APO), (together with its consolidated subsidiaries, "Apollo") today announced that clients managed by its affiliates have entered into a definitive agreement to acquire up to a 50% equity stake in MaxCap Group ("MaxCap" or the "Company"), a leading Australasian commercial real estate . Our Credit platform spans the full financing universe, helping companies access flexible solutions to fund their growth. Apollo Private Equity Funds supported the transformation of McGraw Hill into a leader in the Ed Tech sector with a digital-first approach. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The transaction was terminated on December 14 after a settlement between Hexion and Huntsman, wherein they were required to pay Huntsman $1 billion to drop fraud charges that would have potentially sent the CEO of Apollo to prison. Merx Aviation First Republic Bank is dead! Balancing my desire for a collaborative culture with managing individuals who espouse an opposite result no matter the topic has been a challenge. [59], In 2006, Apollo acquired International Paper's coated paper and supercalendered paper business for $1.4 billion, renaming the business Verso Paper. Founded in 1990 by Leon Black, Josh Harris, and Marc Rowan, it provides investment management and invests in credit, private equity, and real assets. [citation needed], At the time of Apollo's founding, little financing was available for new leveraged buyouts and Apollo turned, instead, to a strategy of distressed-to-control takeovers. Apollo, BlackRock Backed PNC's Failed Bid for First Republic Since our founding in 1990, we have built a leading global alternative asset management business by staying true to our core principles. Apollo . It was started in 2017 and is present till now. Several private equity firms have been raising billions of dollars to expand their footprint in the clean energy space, amid calls for more companies to transition away from fossil fuels. [176][177], In July 2021, funds managed by Apollo acquired EmployBridge, a large industrial-staffing company that has been cited for dozens of safety violations and wage infractions. Apollo's Lottomatica to Take IPO Orders as Soon as This Week It operates through three segments: Asset Management, Retirement Services, and Principal Investing. Wall Street has also been pressured by climate activists, who have been asking banks to commit to stopping funding for new fossil fuel projects. Apollo Global Management (APO) Stock Price Performance, Apollo Global Management (APO) Stock Key Data, Total Enterprise Value to Total Revenue (ttm). Exclusive news, data and analytics for financial market professionals, Reporting by Greg Roumeliotis in New York; Editing by Will Dunham and Nick Zieminski, How JPMorgan's Dimon won the First Republic deal, Tesla raises prices in US, China, Japan and Canada, HSBC rewards shareholders with buyback, dividend as profit triples, In race for efficient EVs, Mercedes taps F1 team to keep up with Tesla. Apollo Global Management, Inc. provides asset management services. Apollo Senior Floating Rate Fund (NYSE: AFT) Apollo Tactical Income Fund . [57] Apollo raised an additional $500 million via private placements in the weeks following that sale. [114], In May 2015, Centerbridge Partners acquired Great Wolf Resorts from Apollo for $1.35 billion. Each of us has benefitted from someone taking a chance on us. We believe that mastering how to invest in Alternatives is more important today than ever. [57][8][76], In January 2008, Apollo and TPG Capital acquired Harrah's Entertainment for $27.4 billion, including the assumption of existing debt. We invest across Yield, Hybrid, and Equity markets, seeking to generate excess returns for our clients across the full risk-reward spectrum. List of Apollo's 89 Acquisitions, including Sector Financial And The Credit segment focuses on the investment in non-control corporate and structured debt instruments including performing, stressed, and distressed instruments across the capital structure. 52 Jobs. As of 2022, the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capital, hedge funds, non-performing . Lottomatica, the Italian gambling company backed Apollo Global Management Inc., plans to begin taking investor orders as soon as this week for an initial public offering that could raise about . Foreign banks are not allowed to own California insurance companies. See here for a complete list of exchanges and delays. Apollo Global Management (formerly known as Tango Holdings) is an alternative asset management company. Learn how we partner with companies and investors to drive global change. Tronox has hired advisers to consider the bid and has yet to decide on its next steps, the sources added. | Apollo is a high-growth, global alternative asset manager. [178][179], In August 2021, Apollo announced the acquisition of the incumbent local exchange carrier operations in 20 states from Lumen Technologies for $7.5 billion, including $1.4 billion of assumed debt. ", "Apollo's first-quarter earnings surge on strong fee revenue", "Apollo Raises $1.8 Billion in Push for Big Corporate Loans", "Michaels will be acquired by a private equity firm in a $5 billion deal", "Apollo Announces Completion of the Tender Offer for Shares of The Michaels Companies", "IGT sells Italian gaming businesses to Gamenet for 950 mln euros", "International Game Technology PLC Announces Agreement To Sell Italian B2C Gaming Business For 950 Million In Cash", "Apollo Funds Complete Acquisition of EmployBridge", "A Tax Credit Was Meant to Help Marginalized Workers Get Permanent Jobs. Tronox was spun out of Kerr-McGee Corp in 2005, and in 2019 it acquired the titanium dioxide business of Saudi Arabia's National Titanium Dioxide Company Ltd from Saudi Arabia's Tasnee. Apollo Global Management Inc. Cl A Company & People | APO1 | Barron's Our business exists to serve these stakeholders including our limited partners, policyholders, regulators, portfolio companies, shareholders, employees, and communities. [56] Apollo initially attempted to raise $2.5 billion for the public vehicle, but fell short when it offered the shares in June 2006, raising only $1.5 billion. [30][31], In 1998, during the dot-com bubble, Apollo raised Apollo Investment Fund IV with $3.6 billion of investor commitments. Constellis is a private military contractor that was created as a result of a merger between rival contractors Triple Canopy and Academi in 2014. Sirius Satellite Radio, University of Phoenix, and Smart and Final are the other companies owned by Apollo. [163][164], In July 2020, Apollo launched a $12 billion platform to make big loans. Also important is the data on short interest which shows that short shares stood at 10.01 million on Apr 13, 2023, giving us a short ratio of 2.94. Apollo is a very understaffed company with management that is highly demanding and deadline driven. Apollo has made 74 investments. Apollo is an alternative asset manager with a track-record of sizable private equity deals, profitable debt/credit management, and shrewd real estate acquisition strategy, across a truly global . [69], In April 2007, Apollo acquired Realogy, a franchisor that owns Coldwell Banker, Century 21, and Sotheby's International Realty, for $8.5 billion. The ability to manage and process information has become paramount to business success, and document management software (DMS) has played a critical role in this information revolution. Weve seen this firsthand in Shopify Support, a globally disbursed team with a remote work culture in which effective team leads act as mission enablers. In February 2007, Apollo announced the acquisition of the Smart & Final chain of warehouse-style food and supply stores. Apollo gives customized financing solutions to private middle companies. [121][122], In November 2016, investment funds managed by Apollo acquired Rackspace. Labor Risks. More than 2,100 Apollo employees, including more than 680 investment professionals, work from our offices . [110], In December 2013, Apollo bought a portfolio of Irish home loans from Lloyds Bank for 307 million, less than half their face value. This article explains how to leverage it. [91] Apollo had been targeting $15 billion, but had been in fundraising for more than 16 months, with the bulk of the capital raised in 2007. We value creativity and imagination in everything that we do. In February 2007, Apollo acquired Oceania Cruises for $850 million and provided additional capital to fund the expansion of the company with the purchase of two new cruise ships.[62]! The reskilling challenge: How can we leave no one behind in the energy transition? At Dataromas, we let you explore the latest portfolios of super investors, their net worth, and much more from all around the globe. [174][175], In May 2021, Apollo's Gamenet acquired the Italian gaming businesses of International Game Technology for 950 million. Since our founding in 1990, we have established a notable record of success in alternative investments. Working at Apollo Global Management: 17 Reviews - Indeed Apollo declined to comment. Tronox shares were hovering around $20 on Monday morning, prior to Apollo's offer being reported. See here for a complete list of exchanges and delays. Since 2008, Apollos ESG program has set the standard for ESG reporting within our industry. Apollo Global Management beat profit expectations in its first results since its merger with life insurance company Athene in January, a deal that dramatically transformed the private equity giant . From PBMS, Apollo formed Novitex Enterprise Solutions. Apollo acquired several large portfolios of assets from the U.S. government's Resolution Trust Corporation. The shares were bought by an Apollo Global Management subsidiary, Tanager Limited. Apollo Global Management, Inc provides asset management services. The Amazing Ways Expedia Is Using ChatGPT To Simplify Travel Arrangements, Huge growth and ethical concerns make Airbnb users think again, Norwegian Cruise lifts profit forecast on higher ticket prices, steady demand, Norwegian Cruise Line Q1 Earnings Breezes Past Expectations, US Stocks Rise; Norwegian Cruise Line Posts Q1 Results, Intel, Saia, Charter Communications And Other Big Stocks Moving Higher On Friday, Charter Communications lifts Q1 revenue over 3%, EBITDA up nearly 3%, Hamilton County mulls taxing Airbnb, short-term rental housing, Why Charter Communications Shares Are Trading Higher Today, Airbnb let its workers live and work anywhere. Create Comparison. [7][8], In September 2004, investment funds managed by Apollo and Sterling Partners acquired Connections Academy. Apollo Global Management (formerly known as Tango Holdings) is an alternative asset management company. [24] Fund III was only an average performer for private-equity funds of its vintage. Tasnee, through a subsidiary, is now Tronox's biggest shareholder with a 24% stake. Aug 28, 2018 . What's the most common types of sub-organization? [115][116], In June 2015, Apollo agreed to acquire OM Group for $1.03 billion. Even with the threat of ransomware, the transition from managing infrastructure to managing data could not have happened at a better time. APO: Apollo Global Management Inc Stock Price Quote - Bloomberg (Disclosure: Apollo Global Management is the parent company of Yahoo Finance.) Following the purchase, Apollo ordered a new ship for Regent. WhatsApp acquired by Facebook), Total number of people associated with this hub, Full Name: First and last name of a Person, Primary Organization: The organization associated to the person's primary job, Primary Job Title: The person's primary job title, CB Rank (Person): Algorithmic rank assigned to the top 100,000 most active People, Total number of events associated with this hub, Location: Location of the Event (e.g. In May 2020, Apollo was the lead investor in a group that bought the majority of debt owed by airport baggage handler Swissport, which has 45,000 workers. [183][184], In January 2022, Apollo acquired Athene, a retirement services business. The 2.10% of Apollo Global Management Inc.'s shares are in the hands of company insiders while institutional holders own 56.10% of the company's shares. Novitex is a document-outsourcing provider that manages business-critical services for over 500 companies across 10 industries. Apollo Global Management: A Unique Approach Creates Unique CareerBuilder was founded in 1995. [32], In May 2008, Apollo invested in Vantium, a company that buys residential mortgage assets as part of a strategy to profit from the United States housing market correction. This category has the following 4 subcategories, out of 4 total. All quotes delayed a minimum of 15 minutes. A leading contributor to addressing some of the biggest issues facing the world today such as energy transition, accelerating the adoption of new technologies, and social impact where innovative approaches to investing can make a positive difference. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. We seek diverse perspectives, prize authenticity, and foster a sense of belonging in our culture. Insights about top trending companies, startups, investments and M&A activities, [106][107], In 2013, Apollo acquired Pitney Bowes Management Services (PBMS) for $400 million. [123][124], In 2016, investment funds managed by Apollo acquired Constellis for $1 billion. While that held true for a long timethe mantra is now being challenged. Apollo Commercial Real Estate Finance (NYSE: ARI) MidCap Financial Investment Corp. (NASDAQ: MFIC) Preferred Stockholders. Having worked as a financial advisor and an author, I combine a passion for writing with a deep understanding of financial planning and wealth management in my writing. Their most recent investment was on Apr 17, 2023, when Cengage Group raised $500M. [67][68], In April 2007, Apollo acquired Noranda Aluminum, the US aluminum business of Xstrata for $1.15 billion. Verso is the second-largest producer for the North American magazine publishing and catalog/commercial print markets. AAA was formed to invest alongside Apollo's main private-equity funds and hedge funds. [54], In August 2006, TNT N.V. announced that it had agreed to the sale of its logistics division to Apollo for $1.9 billion. Apollo and Johnson Controls join forces to provide innovative energy efficiency and decarbonization solutions for commercial buildings. Apollo strives to create a new dimension of diversification and a strong level of aligned investing, with a track record of identifying attractive opportunities for individual investors through access to alternatives. [citation needed], In 2004, Apollo Real Estate acquired the Value Enhancement Funds family of investment vehicles to broaden its offerings in the "value-added" segment of the real-estate investment spectrum. The Private Equity segment consists of investment in control equity and related debt instruments, convertible securities, and distressed debt instruments. It was sold in 2011 for $400 million. [14][15] Apollo purchased distressed securities, which could be converted into a controlling interest in the equity of the company through a bankruptcy reorganization or other restructuring. Is Apollo Global Management Inc. (NYSE:APO) Predicted To Soar? Shortly thereafter, Ares completed fundraising for Ares Corporate Opportunities Fund, a special-situations investment fund with $750 million of capital under management. This rating has improved by 6% over the last 12 months. Although the founders of Ares had completed a corporate spin-off with the formation of the firm in 1997, they had initially maintained a close relationship with Apollo and operated as the West Coast affiliate of Apollo. It is an American Global Investment Management Firm. All quotes delayed a minimum of 15 minutes. The industry leader for online information for tax, accounting and finance professionals. Apollo Global Management, Inc. 2023 All Rights Reserved. save to custom lists or to Salesforce, and get notified when new companies, people, or deals meet your search criteria. [55], In August 2006, Apollo launched a $2 billion vehicle in Europe, AP Alternative Assets. At Apollo, we have built out an entire ecosystem around empowering retirees. Apollo Global Management, Inc. engages in the provision of alternative investment management services. U.S. banking system 'is the envy of the world,' Apollo Global Their most recent diversity investment was on Jan 31, 2022, when Legendary Entertainment raised $760M. [112][113], In October 2014, Apollo merged its Endemol television studio with 21st Century Fox's Shine Group. Other founding partners included Michael Gross and Antony Ressler, who worked as a senior vice president in Drexel's high-yield department. Tronox did not disclose whether Quinn was accused of any wrongdoing. Here are some ways to put healthy conflict resolution into practice. The Private Equity segment consists of investment in control equity and related debt instruments, convertible securities, and distressed debt instruments. In 1997, Ares Management was founded by Antony Ressler and John H. Kissick, both partners at Apollo, as well as Bennett Rosenthal, who joined the group from the global leveraged finance group at Merrill Lynch, to manage a $1.2 billion market value collateralized debt obligation vehicle. [146] On June 26, 2019, Cox announced that its 60 radio stations, as well as its national advertising business CoxReps, and local OTT advertising agency Gamut, would also be acquired by the new company, which concurrently announced that it would retain the Cox Media Group name instead of Terrier Media. Opening of LNG import terminal including Floating Storage and Regasification Unit (FSRU) signals a significant step in Europes energy independence Were driven to outperform so retirees can dream big. [165] The same month, Apollo and The Walt Disney Company sold Endemol Shine Group to French studio Banijay Group. Japan, San Francisco, Europe, Asia), CB Rank (Event): Algorithmic rank assigned to the top 100,000 most active Events, Total amount raised at IPO of all the organizations associated with this hub, Median amount raised at IPO of all the organizations associated with this hub, Total valuation at IPO of all the organizations associated with this hub, Median valuation at IPO of all the organizations associated with this hub, Average date at which organizations in this hub went public, Percentage of organizations in this hub that have removed their stock from the stock exchange. Apollo Global Management has an overall rating of 3.7 out of 5, based on over 242 reviews left anonymously by employees. [44], Also in 2008, Apollo opened an office in India, its first office in Asia. The company was founded by Marc Jeffrey Rowan, Leon David Black, and Joshua Jordan Harris in 1990 and is headquartered in New York, NY. Using this vehicle, Apollo purchased the Executive Life portfolio, profiting when the value of high-yield bonds recovered, but also resulting in a variety of state regulatory issues for Apollo and Credit Lyonnais over the purchase. Apollo Global Management and BlackRock supported several of PNC Financial Services Group's failed bids for First Republic Bank, Bloomberg reported.The PE giants were poised to buy some of the bank's assets had PNC's efforts been successful. The portfolio comprised primarily senior secured loans that had been made to finance leveraged-buyout transactions at the peak of the market. The Real Assets segment includes investment in real estate equity and infrastructure equity; and real estate and infrastructure debt. Apollo, which was previously known as Apollo Advisors was founded in 1990. JPMorgan's acquisition makes it the most globally systemically important bank (G-SIB) in the U.S. and number five globally only after the four Chinese G-SIBs. We work every day to earn the trust of our stakeholders by being a fair, ethical, and responsible partner. In April 2001, Apollo raised Apollo Investment Fund V with $3.7 billion of investor commitments. Apollo Global Management CEO Marc Rowan joins Yahoo Finance Live's Brian Sozzi at the Milken Institute Global Conference 2023 in Beverly Hills, CA, to discuss global dealmaking in 2023, JPMorgan's acquisition of First Republic Bank, and the outlook for regional banking. In June 2007, Smart & Final completed the acquisition of the Henry's Marketplace chain of "farmers market" style food retailers from Wild Oats Markets as part of that company's acquisition by Whole Foods Market. Although technically the founders of Ares had completed a spinout with the formation of the firm in 1997, they had maintained a close relationship with Apollo over its first five years and operated as the West Coast affiliate of Apollo. It offers its clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a . Learn about how Apollo Private Equity worked with Sun Country Airlines to grow its business during the most unprecedented time in airline history. . Related by Industry: Diversified Financials. [145] In March 2019 filings with the Federal Communications Commission (FCC), Apollo disclosed that, through the newly formed Terrier Media, the Cox stations would be acquired for $3.1 billion (to be reduced by the value of a minority equity stake in Terrier that will be retained by Cox Enterprises); Terrier will also concurrently acquire Northwest Broadcasting, giving the company 25 television stations. Apollo Global Management invests in credit, private equity, and real assets. It was sold in May 2019. [94][95] In April 2010, the deal was terminated due to poor shareholder response. Learn more about our history. [45] AIC provides mezzanine debt, senior secured loans, and equity investments to middle-market companies, including public companies. Apollo Global Management is a global asset management firm that specializes in credit-oriented capital and real estate markets. Were focused on securing pensions so people can retire better and companies can focus on what they do best. [21], In 1993, Apollo Real Estate Advisers was founded in collaboration with William Mack to seek opportunities in the U.S. property markets. [30] Ares I and II which were raised were structured as market value CLOs. Is it time to stick or twist? Disclosure: Apollo Global Management is the parent company of Yahoo Finance. Apollo Group has then guided these projects through exploration, feasibility and development phases by ensuring they have the necessary management and . Apollo acquire 50% equity stake in MaxCap | MaxCap Group Noranda Aluminum includes a primary smelter and three rolling mills in Tennessee, North Carolina, and Arkansas along with other operations. Private Equity Round - The North Road Company, Motive Ventures acquired by Motive Partners, EnVen Energy Corporation acquired by Talos Energy, Windsor Mold acquired by ABC Technologies, MIDEO acquired by US Acute Care Solutions, Investor, Startup, Company or School that the hub is based on, Total number of organizations associated with this hub, Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of founders of organizations in the hub, Average date the Organization was founded, Percentage of organizations in this hub that have been acquired, Percentage of organizations that have gone public with an IPO, Total number of for-profit companies in this hub, Top 5 investor types represented in this hub, Last Funding Round type of organizations in the hub (e.g. Working at Apollo Global Management | Glassdoor Leadership & About Apollo Global Management | Apollo Global Management Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. Description. History tells us that it takes time for monetary policy to work its way through the economy.