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. cookies All quotes delayed a minimum of 15 minutes. Apollo Global: Athene Merger Is The Right Strategy - SeekingAlpha Lehman and Hill City Capital. Apollo said Monday it would acquire longtime affiliate Athene Holdings. or 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. The company's shares were up nearly 19% in premarket trade, while Apollo was up 4.7%. , Co-Presidents of Apollo Asset Management. offers FT membership to read for free. Scott Kleinman (Disclosure: Apollo Global Management is the parent company of Yahoo Finance.). 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. The news and analysis powering European private equity. This press release does not constitute an offer of any Apollo fund. 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. The Apollo-Athene Merger Will Unlock Value - SeekingAlpha Got a confidential news tip? Whether we own it forever or not isn't the point.". I am thrilled to partner with experienced leaders and talented teams within both businesses that will drive our differentiated One Apollo model forward. M&A was notably slow over the course of 2022, curtailed by the Fed's rising rates as well as economic and geopolitical volatility. The relationship has delivered hundreds of millions of dollars in asset management fees to Apollo, an amount the lawsuit called "exorbitant", citing an FT investigation that reported Apollo's. He said, fundamentally, the goal for Apollo is to think long-term about each of its businesses, especially private equity. Global Head of Corporate Communications, Apollo. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. We cant find the page you're looking for. esgSubNav, Discover more about S&P Globals offerings, Global Credit and Risk Symposium: Unlocking Possibilities, JW Marriott Sao Paulo Av. Athene has since become a large U.S. annuity provider, with net income nearly doubling last year to $1.45 billion. We support credit card, debit card and PayPal payments. 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. The elaborate 131-page complaint alleges violations of the Racketeer Influenced and Corrupt Organizations Act (RICO).
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