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Some leading indicators are potentially signaling that the labor market is on the cusp of slowing down. [8] It was a Guernsey-domiciled publicly traded, private-equity closed-end, limited partnership, managed by Apollo Alternative Assets, an affiliate of Apollo Management. Our Standards: The Thomson Reuters Trust Principles. [139][140], In June 2018, funds managed by Apollo and Vrde Partners acquired a majority of OneMain Financial. 68% of employees would recommend working at Apollo Global Management to a friend and 75% have a positive outlook for the business. History tells us that it takes time for monetary policy to work its way through the economy. That firm was then owned and controlled by its remaining principals, including William Mack, Lee Neibart, William Benjamin, John Jacobsson, Stuart Koenig, and Richard Mack. [169], In March 2021, Leon Black resigned as CEO and chairman after revelations that he paid Jeffrey Epstein $158 million for personal tax-related advice between 2012 and 2017. Category:Apollo Global Management companies - Wikipedia save to custom lists or to Salesforce, and get notified when new companies, people, or deals meet your search criteria. 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 . 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 . Apollo Group and the companies it manages have had considerable success in identifying and acquiring world class projects in commodities such as gold, coal, uranium, iron ore, and base metals. In May 2008, Linens filed for bankruptcy protection, costing Apollo all of its $365 million investment in the company. Learn how we partner with companies and investors to drive global change. Apollo Senior Floating Rate Fund (NYSE: AFT) Apollo Tactical Income Fund . [20] One of Apollo's earliest and most successful deals involved the acquisition of Executive Life Insurance Company's bond portfolio. 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]! Hear more At Apollo, we aim to integrate sustainability into everything we do. All quotes delayed a minimum of 15 minutes. The first of these new affiliates, founded in 2003, was Apollo Distressed Investment Fund (DIF) Management, a credit-opportunity investment vehicle. Founded in 1990, Apollo Global Management is a private equity and investment management firm headquartered in New York City, New York. Apollo Global Management is one of the largest asset managers serving many of the world's most prominent investors. [135][136], In November 2017, Apollo lent $184 million to Kushner Companies to refinance the mortgage on a Chicago skyscraper. Academi, founded by Erik Prince and formerly known as Blackwater USA, is best known for its role in the Nisour Square massacre, where Blackwater guards killed 17 Iraqi civilians and injured 20. Citigroup had been unable to syndicate the loans before the onset of the credit crunch. [121][122], In November 2016, investment funds managed by Apollo acquired Rackspace. What we do Apollo Group Apollo Global Management, Inc. engages in the provision of alternative investment management services. 2023 Forbes Media LLC. by Ethan Miller March 21, 2023, 8:10 pm. Apollo Global Management History: Founding, Timeline, and Milestones Aspen Insurance Holdings Limited . Rackspace Technology Inc. is located in Texas. [82][83], In April 2008, Apollo filed a Form S-1 with the U.S. Securities and Exchange Commission in preparation for an IPO on the New York Stock Exchange. Marc Rowan, CEO of Apollo Global Management, andMaverick Carter, CEO of The SpringHill Company, share what they have learned stepping into the CEO role and working to build the right culture and legacy for their respective firms. [93], In December 2009, Apollo announced the acquisition of Cedar Fair Entertainment Company for $635 million and assumed debt valuing the company at $2.4 billion. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. We must never lose our focus and determination to be the best investors and most trusted partners on their behalf. Learn how Apollo is helping to drive a more sustainable future by supporting the growth of FlexGen. 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. [44], Also in 2008, Apollo opened an office in India, its first office in Asia. The Asset Management segment focuses on yield, hybrid, and equity investing strategies. Other founding partners included Michael Gross and Antony Ressler, who worked as a senior vice president in Drexel's high-yield department. The founders of Apollo are Leon Black, Josh Harris, and Mark Rowan. Apollo Head of Europe & Head of European Private Equity Robert Seminara explains how the company is . [148], In February 2019, Apollo acquired Aspen Insurance for $2.6 billion. Working at Apollo Global Management: 17 Reviews - Indeed 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. He was replaced as CEO by Marc Rowan. Apollo gives customized financing solutions to private middle companies. [191][192], In July 2022, investment funds managed by Apollo acquired Tenneco for $7.1 billion. This article explains how to leverage it. Is Apollo Global Management Inc. (NYSE:APO) Predicted To Soar? This rating has improved by 6% over the last 12 months. Apollo is accelerating growth for companies leading today's most ambitious renewable energy projects. Apollo - Investments, Portfolio & Company Exits - CrunchBase 1990. In May 2008, Verso became a public company via an IPO.[60][61]. It was started in 2017 and is present till now. For individuals and their advisors, we offer a growing range of wealth management solutions to meet their needs by going beyond the public markets. Instead It's Subsidizing Temp Work", "Lumen to sell much of its U.S. telecom assets to Apollo for $7.5 billion", "Lumen to sell local incumbent carrier operations in 20 states to Apollo Funds for $7.5 billion", "Apollo seeks $500 million fund to invest in SPACs -sources", "Apollo Funds Complete Acquisition of Yahoo", "Apollo Completes Merger with Athene and Finalizes Key Governance Enhancements", "Apollo Reabsorbs Athene in All-Stock Deal That Values Firm at $11 Billion", "Apollo Global to buy annuities provider Athene in $11 billion deal", "Apollo's merger with Athene highlights PE's rush for permanent capital", "Apollo and Athene to Merge in All-Stock Transaction", "Inside billionaire Josh Harris' final years at Apollo, where former employees said his personal investments caused tensions", "Apollo Completes Acquisition of Griffin Capital", "Apollo completes acquisition of Griffin Capital's US asset management business", "Lake Forest-based Tenneco being taken private in $7.1 billion deal", "Tony's Fresh Market acquired by New York-based Apollo Global Management", "Miller Homes to target sterling-heavy bonds for Apollo takeover", "Apollo raises $24.6 billion for largest private equity fund ever", https://en.wikipedia.org/w/index.php?title=Apollo_Global_Management&oldid=1151081357. [147] On February 10, 2020, Cox Enterprises bought back the Ohio newspapers it sold to AGM. Aug 28, 2018 . Verso is the second-largest producer for the North American magazine publishing and catalog/commercial print markets. We strive to be: We are building a unique firm of extraordinary colleagues who: As One Apollo team, we believe that doing great work and having fun go hand in hand, and we are proud of what we can achieve together. April 26 (Reuters) - Apollo Global Management Inc (APO.N) has launched a $4 billion fund to invest in companies looking to transition to clean energy, the private equity giant said on Wednesday. RT @BloombergTV: Apollo Head of Europe & Head of European Private Equity Robert Seminara explains how the company is expanding its London o. Hexion announced in June 2008 it would refuse to close the deal, prompting a series of legal actions. The fund, ACT Capital, is part of the $50 billion sustainable investment target Apollo set for itself last year. [45] AIC provides mezzanine debt, senior secured loans, and equity investments to middle-market companies, including public companies. [59], In 2006, Apollo acquired International Paper's coated paper and supercalendered paper business for $1.4 billion, renaming the business Verso Paper. 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 . What Companies Does Unilever Own In 2023 DATAROMA, What Companies Does Dodge Own In 2023 DATAROMA, Bill Gates Portfolio 2023 Stock Holdings- DATAROMA, Dexcom Stock Split in 2023 [What You Should Know], Interactive Home and Business Automation, Monitoring services. [174][175], In May 2021, Apollo's Gamenet acquired the Italian gaming businesses of International Game Technology for 950 million. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Noranda Aluminum includes a primary smelter and three rolling mills in Tennessee, North Carolina, and Arkansas along with other operations. Shortly thereafter, Ares completed fundraising for Ares Corporate Opportunities Fund, a special-situations investment fund with $750 million of capital under management. Photobooks, prints, Personalized Cards, Gifts, and many more. Apollo declined to comment. ACT Capital will invest in companies globally, Apollo said. [1] Funds managed by Apollo have produced a 24% internal rate of return (IRR) to investors, net of fees.[5]. Description. [30] Ares I and II which were raised were structured as market value CLOs. Apollo acquired several large portfolios of assets from the U.S. government's Resolution Trust Corporation. Learn more in the Weekly Brief. Apollo Global Management is one of the largest asset managers serving many of the world's most prominent investors. We have a value-oriented approach across private equity, credit, and real estate. [55], In August 2006, Apollo launched a $2 billion vehicle in Europe, AP Alternative Assets. Industry: Investment & Asset Management. [123][124], In 2016, investment funds managed by Apollo acquired Constellis for $1 billion. All values as of most recently reported quarter unless otherwise noted. CareerBuilder was founded in 1995. [117], Also in June 2015, Apollo won the bidding during an auction for Saint-Gobain's Verallia glass bottle-manufacturing unit for 2.95 billion. [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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.