APOLLO GLOBAL MANAGEMENT, INC. : Bedrijfscommunicatie en persberichten APOLLO GLOBAL MANAGEMENT, INC. | APO1 * | US03769M1062 | Mexican Stock Exchange Apollo has vowed to defend itself in the case, saying the allegations do not have a legal or factual basis. offers FT membership to read for free. Insiders Open up About Apollo Global Management CEO Marc Rowan Leon Black is proving once again he's not someone to cross. As the Federal Reserve's May meeting approaches, Apollo Global Management (APO) co-founder and CEO Marc Rowan isn't worried if the tight liquidity environment sticks around. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. university . . Apollo Global, Athene Get Temporary Halt to Shareholder Lawsuit - Wink And that trend has continued in 2023 so far. Apollo had $547.6 billion in assets under management (AUM) as 2022 came to a close, according to SEC filings. IR@apollo.com. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Apollo Global Management Inc. is moving to gain full control over Athene Holding Ltd., a large life insurer. Apollo Completes Merger with Athene and Finalizes Key Then in April, the firm invested $500 million in education tech company Cengage Group in a deal expected to close this summer. To learn more, please visit www.apollo.com. It is rare for private equity firms to accuse former executives publicly of stealing trade secrets. NEW YORK (Reuters) - Apollo Global Management LLC. Athene, through its subsidiaries, is a leading financial services company with total assets of $224.4 billion as of September 30, 2021 and . Apollo Global Management Inc. is suing two former employees of its affiliate Athene Holding Ltd. over their role in helping set up a rival insurance business. and To learn more, please visit www.apollo.com. Athene and Apollo have seen tremendous mutual benefit from our longstanding strategic relationship, and now with full alignment our value will be significantly stronger than the sum of our parts, said EXHIBIT(S) - 12 (Motion #018) - Final Arbitration Award (Redacted Copy) February 16, 2023. The reference to emails in 2017 smacks of desperation.. Apollo Global Management APO has announced an all-stock deal worth $11 billion to merge with Athene Holding ATH. Apollo Asset Management will continue to be led day-to-day by its Co-Presidents Read the latest financial and business news from Yahoo Finance. All Rights Reserved. For Investors: According to the Central Laborers' Pension Fund's lawsuit, Apollo is charging Apollo buying Athene in $11B deal; COVID-19 class action allowed to , CEO of Athene. Before the #MeToo movement riveted public attention on sexual harassment and gender biases in the workplace, Apollo Global Management Inc.'s lucrative insurance unit quietly settled a potentially explosive complaint that a female employee filed against the chief executive of the insurer, Athene Holding Ltd. Private equity was not immune to 'the siren song of liquidity,' Apollo Download the Yahoo Finance app for Apple or Android. Apollo and Athene will seek a permanent injunction in Bermuda, where Athene was incorporated. Simply log into Settings & Account and select "Cancel" on the right-hand side. Check if your No. 107: Aviva, Athene, and Apollo Are Defendants in a RICO Lawsuit The lawsuit is another chapter in a long-running tussle Black has had with former executive Imran Siddiqui . During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 652175/2018. (515) 342 6473 Check if your esgSubNav, Discover more about S&P Globals offerings, Global Credit and Risk Symposium: Unlocking Possibilities, JW Marriott Sao Paulo Av. The judge issued the temporary injunction days before lawyers for the pension fund asked the court to stay the proceeding, because the lawsuit was filed in New York and they were not alerted to the action in Bermuda. Log in to keep reading or access research tools. The buyout mogul who created Apollo Global Management Inc. is suing two former employees of Athene Holding Ltd., claiming they covered up efforts to help an ex-partner start a rival firm. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. The buyout mogul who created Apollo Global Management Inc. is suing two former employees of Athene Holding Ltd., claiming they covered . And its further evidence that Black prizes loyalty -- and will go to considerable lengths to protect the firm he founded from those who depart. NEW YORK (Reuters) - Apollo Global Management LLC APO.N and billionaire co-founder Leon Black said on Monday they have uncovered proof that a former executive suing them for $1.5 billion stole confidential information as he prepared to bolt the private equity firm and compete with it. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. Motion to Compel Arbitration in Apollo Asset Management, Inc. (f/k/a Jim Zelter The elaborate 131-page complaint alleges violations of the Racketeer Influenced and Corrupt Organizations Act (RICO). Standard Digital includes access to a wealth of global news, analysis and expert opinion. cookies Siddiqui worked at Goldman Sachs Group Inc. and Oak Hill Capital Partners before joining Apollo. Siddiquis lawyer Lisa Solbakken said the emails reflect no wrongful conduct, and the new allegations should be rejected. Athene Investor Contact Noah Gunn +1 441 279 8534 +1 646 768 7309 ngunn@athene.com Athene Media Contact Karen Lynn +1 441 279 8460 +1 515 342 3910 klynn@athene.com Apollo Investor . The deal is expected to close in January 2022. Apollo, Leon Black say ex-partner's theft shows 'betrayal' and billionaire co-founder Leon Black said on Monday they have uncovered proof that a former executive suing them for $1.5 billion stole confidential information as he prepared to bolt the private equity firm and compete with it. trending Simply log into Settings & Account and select "Cancel" on the right-hand side. Black, 67, is worth $6.2 billion, according to Forbes magazine. Together we articulated an attractive plan to generate $15 billion of deployable capital over the next five years and more than double our fee-related earnings. Apollo believes these factors include but are not limited to those described under the section entitled Risk Factors in the joint proxy statement/prospectus filed by Apollo Global Management, Inc. (formerly known as Tango Holdings, Inc.) with the Securities and Exchange Commission (the SEC) on November 5, 2021, Apollo Asset Management Inc.s (AAM, formerly known as Apollo Global Management, Inc.) Annual Report on Form 10-K filed with the SEC on February 19, 2021 and Quarterly Report on Form 10-Q filed with the SEC on May 10, 2021, and Athenes Annual Report on Form 10-K filed with the SEC on February 19, 2021, its amendment to its annual report on Form 10-K/A filed with the SEC on April 20, 2021 and Quarterly Report on Form 10-Q filed with the SEC on November 8, 2021, as such factors may be updated from time to time in Apollos, AAMs or Athenes periodic filings with the SEC, which are accessible on the SECs website at http://www.sec.gov. , has two principal subsidiaries: Apollo Asset Management (formerly Apollo Global Management, Inc.), its alternative asset management business, and Athene, its retirement services business. and This combination is a competitive differentiator and a growth accelerant, bringing expected benefits to all of our shareholders, policyholders and important stakeholders.. * Apollo Global Management Inc. and Athene Holding Ltd. have agreed to merge in an all-stock transaction that implies a total equity value of roughly $11 billion for Athene. Marc Rowan We support credit card, debit card and PayPal payments. For cost savings, you can change your plan at any time online in the Settings & Account section. Bermuda court orders halt to US lawsuit against Apollo Compare Standard and Premium Digital here. Head of Marketing & Corporate Communications, Athene Global Head of Corporate Communications, Apollo. 3 min read. Apollo has been getting paid lucrative fees by Athene, in which it currently holds a 27% stake, for more than a decade, providing asset allocation services and directly managing a portion of Athene's assets across its investment platform, primarily in its ever-expanding credit business. Apollo and Athene are world-class franchises that have flourished as strategic partners, and we expect the full alignment achieved by our merger will accelerate our collective growth, said Apollo CEO NEW YORK, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Apollo and Athene today announced the successful completion of their merger under Apollo Global Management, Inc. (NYSE: APO), a high-growth alternative asset manager with asset management and retirement services capabilities. The deal is expected to be completed in January 2022. (212) 822-0491. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Scott Kleinman Apollo Global Management is suing two former employees of its affiliate Athene Holding over their role in helping set up a rival insurance business. Apollo sues two more executives in dispute over insurance rival In March, Rowan reassured investors that Athene wasn't at risk of a run similar to those seen at regional banks in the aftermath of Silicon Valley Bank's collapse. Mar 8, 2021, 1:57 PM PST. The firm has also been building up its presence in Europe. In February, Apollo clocked a profit after three quarters of losses. Global Head of Corporate Communications, Apollo Apollo Global Management has been accused of "looting" its affiliated life insurance company, Athene Holding, in an investor lawsuit targeting "exorbitant" payments that account for one-third. Apollos Board of Directors is led by non-executive Chair Athene Holding Ltd. and Apollo Global Management LLC have obtained a temporary injunction from a Bermuda court blocking a pension fund's lawsuit claiming that Apollo is "looting" the insurance company from going forward, the Financial Times reported. The lawsuit is ongoing. Market Intelligence We want to hear from you. Apollo Proposes Merger With Insurance Firm Athene - Business Insider Apollo Sues Two More Executives in Dispute Over Insurance Rival - WSJ It also owns retirement reinsurer Athene, which offers a range of annuity products and accounts for about 40% of Apollo's AUM. Founded in 2009, Athene also serves as Apollo's partner insurance company and had total assets worth $202.8 billion at the end of 2020, with operations in the United States, Bermuda, and Canada. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. "We will have total alignment to optimize our strategy and allocate capital efficiently," said Marc Rowan, Apollo's incoming chief executive, who helped set up Athene in 2009. The allegations were made in response to a July 12 lawsuit in which the former executive, Imran Siddiqui, said Apollo and Black tried illegally to undermine his new venture, Caldera Holdings. The full list of representatives can be found in the governance section of https://ir.apollo.com/. offers FT membership to read for free. and comprised of a highly qualified, diverse, and two-thirds independent group of directors representing both parts of the business. Experts Say Apollo's Athene Acquisition Will Position - PLANSPONSOR content Read court documents, court records online and search Trellis.law comprehensive legal database for any state court documents. Before the #MeToo movement riveted public attention on sexual harassment and gender biases in the workplace, Apollo Global Management Inc.'s lucrative insurance unit quietly settled a potentially. Our Standards: The Thomson Reuters Trust Principles. Photographer: Anthony Kwan/Bloomberg. In addition, Apollo expects the enhanced trading profile of its stock to attract a broader and diversified investor base over time. Follow Yahoo Finance on Twitter, Facebook, Instagram, LinkedIn, and YouTube. Jay Clayton For a full comparison of Standard and Premium Digital, click here. For cost savings, you can change your plan at any time online in the Settings & Account section. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Follow her on Twitter at @agarfinks and on LinkedIn. I am thrilled to partner with experienced leaders and talented teams within both businesses that will drive our differentiated One Apollo model forward. Apollo also said that the conflicts committee of its board has approved changes that would result in a simpler, more transparent corporate structure that is expected to be put in place by January 2022. Apollo accused of 'looting' affiliate insurer Athene See here for a complete list of exchanges and delays. Apollo-Athene: the new Berkshire Hathaway? | Financial Times "If we make decisions as if we're going to own it forever, we usually will make the right decision. Integrating that business. Rowan, who co-founded the firm with Josh Harris and Leon Black in 1990, took the helm at Apollo in 2021. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. 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The news and analysis powering European private equity. Though 2023 won't be a year defined by "new toys," as Rowan said previously, Apollo has done a handful of big deals while moving others over the finish line. Athene and Caldera have battled each other for control of American Equity Investment Life Holding Co AEL.N, an annuities specialist that put itself up for sale in May, the Financial Times has reported. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. In March, Apollo announced that it would acquire Athene, an annuities provider that Rowan helped create over a decade ago, in a deal that valued it at $11 billion. (212) 822-0540 university The company also closed its acquisition of Atlas Air Worldwide, a deal done alongside J.F. Apollo Completes Merger with Athene and Finalizes Key Governance We support credit card, debit card and PayPal payments. The Apollo-Athene Merger Will Unlock Value - SeekingAlpha Marc Rowan, Apollo co-founder. It opened a new office in London in April and invested 1 billion euros about $1.1 billion in real estate assets managed by Germany-based Vonovia. Apollo Law Asia Stocks Rise on Hong Kong; Traders Wait on Fed: Markets Wrap, Factbox-Long-serving Qantas executive Vanessa Hudson named as next CEO, Oil Holds Loss Amid Concerns Over Chinese Demand, Banking Woes, Milken Latest: Saudis Look to Diversify Economy Beyond Just Oil, ADB announces funding plan for Asian efforts to combat climate change. Over the last few years, the firm has . Each outstanding Class A common share of Athene was exchanged for a fixed ratio of 1.149 shares of Apollo stock. IR@apollo.com, For Media: Apollo had $547.6 billion in assets under management (AUM) as 2022 came to a close, according to SEC filings. You may change or cancel your subscription or trial at any time online. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to Apollos dependence on certain key personnel, Apollos ability to raise new Apollo funds, the impact of COVID-19, the impact of energy market dislocation, market conditions, and interest rate fluctuations, generally, Apollos ability to manage its growth, fund performance, the variability of Apollos revenues, net income and cash flow, Apollos use of leverage to finance its businesses and investments by Apollo Funds, Athenes ability to maintain or improve financial strength ratings, the impact of Athenes reinsurers failing to meet their assumed obligations, Athenes ability to manage its business in a highly regulated industry, changes in Apollos regulatory environment and tax status, litigation risks and Apollos ability to recognize the benefits expected to be derived from the Merger. People now have to figure out were they good investors or was this all market beta? Sign up for free newsletters and get more CNBC delivered to your inbox. The emails are stark and blatant examples of Siddiquis betrayal of Apollo and Athene when he was still a highly paid Apollo partner and should have been loyal, the filing said. An investor in Athene, the pension fund filed a complaint in June accusing Apollo and Athene of "dishonestly assisting" directors of the private equity firm's insurance unit of engaging in . Apollo created Athene in 2009 to buy insurance assets that were hit hard during the global financial crisis. Apollo Announces Special Meeting Date to Approve Proposed Merger Apollo Global Management is suing two former employees of its affiliate Athene Holding over their role in helping set up a rival insurance business. Communications@apollo.com. Pension fund drops NY lawsuit against Apollo and Athene - Insurance Insider As a result of the merger, the combined entity Apollo Global Management, Inc., led by Chief Executive Officer personalising content and ads, providing social media features and to Apollo to Acquire Athene Through $11B Deal | ThinkAdvisor For Media: Joanna Rose. The problem was that Athene's investors had a problem with Apollo's relationship with them, and in 2019 a lawsuit accused Apollo of overcharging Athene by hundreds of millions of dollars for their services. or APOLLO GLOBAL MANAGEMENT, INC. : Persberichten | APO1 * | US03769M1062 In addition to the aforementioned Athene, an $11 billion all-stock acquisition it closed in 2022, Apollo currently owns security firm ADT, which it bought in 2016, and Yahoo Inc. (Yahoo Finance's parent company), which it acquired in 2021 for $5 billion. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. The lawsuits ended after a court in Bermuda ordered US shareholders to drop their action. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. The deal would create a $29 billion conglomerate and put . Jim Belardi If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. The last trading day closing prices of Apollo and Athene common stock imply that the combined Apollo opens with a market capitalization of $43 billion. Still, the alternative asset manager's portfolio continues to get a lot of attention from market watchers, and rightfully so given the high-profile names it holds. Apollo said Monday it would acquire longtime affiliate Athene Holdings. Each outstanding Athene class A common share will be exchanged for a fixed ratio of 1.149 common shares of Apollo. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. The latest suit, filed Friday, is against Stephen Cernich and Huan Tseng, formerly of Athene AI-powered legal analytics, workflow tools and premium legal & business news. 2023 CNBC LLC. analyse how our Sites are used. Apollo's Athene Quietly Settled Harassment Case Against Its CEO NEW YORK and HAMILTON, Bermuda, March 08, 2021 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Athene (NYSE: ATH) have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of approximately $11 billion for Athene. Apollo Global: Athene Merger Is The Right Strategy - SeekingAlpha

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