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Apollo Global Management

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Apollo bids higher to take EasyJet at £7.15 a share, eclipsing Castlelake
business1 day ago

Apollo bids higher to take EasyJet at £7.15 a share, eclipsing Castlelake

EasyJet said it has agreed in principle to Apollo Global Management's takeover offer, valued at about £5.7bn (roughly £7.15 per share), topping Castlelake's £5.2bn/£6.90-per-share bid and leaving Castlelake on the back foot. Apollo has until 17:00 on 7 August to firm up a bid, while Castlelake's deadline is 3 August. Any deal must satisfy EU ownership rules, with Apollo saying it will meet those conditions. For now, flights and bookings continue as normal, and shares rose on the news as analysts note EasyJet's profitable network and holidays business make it an attractive target.

via BBC|
#apollo-global-management#business#castlelake
Black says Epstein duped him into big fee, testifies before Congress
politics14 days ago

Black says Epstein duped him into big fee, testifies before Congress

Former Apollo Global Management CEO Leon Black testified before the House Oversight Committee, denying involvement in Epstein’s crimes while saying Epstein duped him into paying about $158 million in advisory fees—later claimed to be tax-deductible—amid subpoenas for NDAs; Black walked out of the deposition as scrutiny over Epstein’s ties to wealthy individuals intensifies.

via CNBC|
#apollo-global-management#house-oversight-committee#jeffrey-epstein
Nashville Emerges as NYC’s Corporate-HQ Rival, Jobs Shifting South
business19 days ago

Nashville Emerges as NYC’s Corporate-HQ Rival, Jobs Shifting South

Nashville is emerging as a pro‑business rival to New York City as major firms relocate staff to lower-cost states—Apollo Global Management eyes a second US HQ in Nashville, Starbucks pledges a 2,000‑job Nashville hub, and AllianceBernstein moved its HQ there—while Citadel and Goldman Sachs weigh Florida and Dallas expansions. NYC Mayor Zohran Mamdani’s tax‑increase proposals are cited as a factor, with NYC facing potential losses of thousands of financial jobs and hundreds of millions in annual tax revenue as firms move south.

via New York Post|
#apollo-global-management#business#corporate-relocation
Private capital backs Anthropic’s Broadcom-backed AI compute expansion
business1 month ago

Private capital backs Anthropic’s Broadcom-backed AI compute expansion

Apollo Global Management and Blackstone are financing a $35 billion expansion of Anthropic's AI computing capacity using Broadcom's custom chips, starting with 1 gigawatt of capacity to be deployed at Fluidstack sites mid-2026 and targeting more than 20 GW for leading AI labs by 2028 (including OpenAI); Apollo leads the initial tranche alongside Blackstone's Credit & Insurance unit, in a deal that reinforces Broadcom's AI chip push and ties Anthropic to Google-assisted capacity (about 3.5 GW) as part of a broader private‑capital funding drive to scale AI infrastructure.

via Reuters|
#ai-computing#anthropic#apollo-global-management
Apollo and Blackstone back Anthropic with $35B AI chip financing
technology1 month ago

Apollo and Blackstone back Anthropic with $35B AI chip financing

Apollo Global Management and Blackstone-led $35 billion private credit deal finances Anthropic’s growth and its purchase of Alphabet-developed chips (TPUs) in a three-tranche structure backed by Broadcom, marking one of the largest private fundraisings for AI infrastructure amid a buoyant but increasingly scrutinized AI market.

via Financial Times|
#anthropic#apollo-global-management#artificial-intelligence
Radio Giants Eye a Union as Azoff and Apollo Guide Talks
business2 months ago

Radio Giants Eye a Union as Azoff and Apollo Guide Talks

iHeartMedia and SiriusXM are in early talks about a potential merger, with Irving Azoff and Apollo Global Management offering to advise. The discussions are preliminary and there’s no guarantee of a deal or a takeover; the goal would be greater scale and artist collaboration in an evolving audio landscape, and Azoff is advising rather than pursuing an acquisition.

via Variety|
#apollo-global-management#business#iheartmedia
Apollo Trims Withdrawals in Flagship Private Credit Vehicle
business3 months ago

Apollo Trims Withdrawals in Flagship Private Credit Vehicle

Apollo Global Management capped redemptions from its flagship Apollo Debt Solutions BDC after investors sought about $1.6 billion (11.2% of its $15 billion net assets), above the 5% threshold for limiting withdrawals. The firm honoured roughly half of withdrawal requests, joining peers like Morgan Stanley and BlackRock in restricting outflows as investor sentiment cools on semi-liquid private markets. The fund, with about $25 billion in investments, posted roughly flat net flows for the quarter after new commitments and redemptions, and recorded its first monthly loss in February due to a sell-off in more liquid loans.

via Financial Times|
#apollo-global-management#asset-management#business
Apollo’s Private Credit Fund Returns 45% of Requested Withdrawals
business3 months ago

Apollo’s Private Credit Fund Returns 45% of Requested Withdrawals

Apollo Debt Solutions BDC faced Q1 redemption requests totaling 11.2% of shares, well above its 5% quarterly cap, and will prorate payouts to about 45% of the requested amounts (roughly $730 million). NAV fell 1.2% in the quarter but outperformed the US Leveraged Loan Index; software makes up 12.3% of the portfolio. Apollo is maintaining the 5% cap as a value-protection measure, contrasting with rivals like Blackstone that have loosened withdrawal limits.

via CNBC|
#apollo-global-management#bdc#business
Apollo Exec Questions PE Software Valuations, Warns of Potential Private-Loan Losses
business3 months ago

Apollo Exec Questions PE Software Valuations, Warns of Potential Private-Loan Losses

Apollo’s John Zito told UBS clients that private-equity marks on software holdings are “all the marks are wrong,” warning that lenders to smaller software firms could recover only 20–40 cents on the dollar. Apollo says software makes up under 2% of its AUM and it has zero exposure to PE stakes in software firms, even as private credit faces redemptions and AI-driven market volatility that could pressure valuations and foretell deeper losses if loans falter. Zito also noted riskier, lower-quality private-equity software bets from 2018–2022, but argued the broader private-credit asset class should endure with better risk management.

via CNBC|
#apollo-global-management#business#mark-to-market
Unions call SEC to scrutinize Apollo's Epstein disclosures
business4 months ago

Unions call SEC to scrutinize Apollo's Epstein disclosures

Two teachers unions urged the SEC to investigate Apollo Global Management over allegedly misleading disclosures about its ties to Jeffrey Epstein. New documents show CEO Marc Rowan met Epstein and that Epstein was connected to a potential tax-inversion discussion, even as Apollo has asserted only Leon Black had a relationship with Epstein. Dechert’s 2021 review found no Apollo employee beyond Black seriously involved with Epstein, though new materials suggest meetings involving Rowan. The unions argue for greater candor and watchdog scrutiny; there’s no evidence of Epstein’s trafficking activities by Apollo. Despite the controversy, Apollo’s stock has risen since Black’s departure.

via Axios|
#apollo-global-management#business#dechert