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Apollo is expanding daily pricing to its entire lineup of private credit assets. Private credit involves making loans directly to companies rather than buying bonds on public markets, and these loans have traditionally been hard to value because they do not trade on an open exchange every day.
By providing daily prices, Apollo is making these investments look and feel more like traditional stocks or bonds. This transparency is a key step in the firm's goal to sell more private investments to individual savers and pension funds who need to know exactly what their holdings are worth at any moment. It helps Apollo stand out as it tries to reach its target of managing 1.5 trillion dollars in total assets.
Source: GlobeNewsWire
Apollo has finished its buyout of Nippon Sheet Glass, a global company that makes glass for buildings, cars, and solar panels. This deal moves the glass maker into Apollo's private equity portfolio, where the firm plans to install a new management structure to drive growth.
This is a classic example of how Apollo uses its managed funds to buy and overhaul industrial businesses. For a long-term owner, the success of these deals matters because Apollo earns fees for managing the assets and often takes a share of the profits when it eventually sells the company for more than it paid.
Source: GlobeNewsWire
The House of Representatives voted to hold former Apollo CEO Leon Black in contempt of Congress after he refused to comply with subpoenas. The investigation is looking into his ties to Jeffrey Epstein, a matter that has followed the firm since Black stepped down from his role in 2021.
While Black no longer runs the company, this development keeps a high-profile legal cloud over the firm's founder. The matter will now be referred to the Department of Justice for potential criminal prosecution. For long-term owners, the concern is less about the daily operations of the business and more about the potential for ongoing negative attention or further legal discovery that could involve the firm's past.
Source: CNBC
Apollo provided a $1.25 billion equity solution to help merge BMG and Concord, two major players in music publishing and recorded music. As part of the deal, Apollo will receive a minority interest in a portion of BMG's music rights portfolio.
This deal shows how Apollo is using its massive pool of capital to act as a flexible lender and partner for large corporate mergers. By taking a stake in the music rights themselves, Apollo is securing a stream of income from royalties, which fits its strategy of finding steady, long-term returns to fund its retirement services business.
Source: GlobeNewsWire
Apollo is selling a portion of its stake in Miller Homes to Daiwa House, a global construction and real estate firm. This brings in a strategic partner to help grow the UK housebuilder while allowing Apollo to return some capital to its investors. This is a routine part of the private equity cycle. Apollo buys a business, improves it, and eventually sells parts or all of it to realize a profit. Bringing in a specialized partner like Daiwa House suggests the business is performing well enough to attract a major industry player.
Source: GlobeNewsWire
Management has a long history of clearing its own targets, though two slight misses in the last year suggest the bar is getting harder to jump as the business grows.
| Expectation | |
|---|---|
| EPS | $2.28 |
| Revenue | $5.90B |
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