Profile: Apollo Global Management LLC (APO)
19 Dec 2014
Apollo Global Management, LLC (Apollo), incorporated on July 3, 2007, is an investment manager. The Company’s primary business is to raise and invest private equity, capital markets and real estate funds as well as managed accounts on behalf of pension and endowment funds, as well as other institutional and high net worth individual investors. For these investment and management services Apollo receives management fees related to the amount of assets managed transaction and advisory fees for the investments made and carried interest income related to the performance of the funds managed. The Company has three business segments which include Private equity, Capital markets and Real estate. The Company manages AP Alternative Assets, L.P. American Automobile Association (AAA) a permanent capital vehicle which invests all of its capital in or alongside Apollo-sponsored entities, funds, other investments, and several strategic investment accounts .As of December 31, 2013, the Company had total asset under management (AUM) of $161 billion approximately $50 billion in private equity, $101 billion in credit and $9 billion in real estate. In March 2013, The McGraw-Hill Companies Inc completed the sale of its McGraw-Hill Education business to investment funds affiliated with Apollo and the Company acquired AURUM Holdings Ltd.
As on February 2014, Apollo Global Management, LLC completed the acquisition of CEC Entertainment Inc. As on February 28, 2014, the Company acquired EVO Banco of NCG Banco SA (NCG) a unit of Fondo de Reestructuracion Ordenada Bancaria. As on May 2014, Apollo European Principal Finance Fund II a fund affiliated with the Company announced the completion of the acquisition of a portfolio of 18 European hotels from Ivanhoe Cambridge. As on May 23, 2014, the Company acquired Event Rentals Inc, an Inglewood-based provider of party supplies rental services. The Company operates in New York, Los Angeles, Houston, Toronto, London, Frankfurt, Luxembourg, Singapore, Hong Kong, and Mumbai. The Company’s industry sector includes chemicals, natural resources, consumer and retail, distribution and transportation, financial and business services, manufacturing and industrial, media and cable and leisure, packaging and materials and the satellite and wireless industries.
Private equity invests in control equity and related debt instruments, convertible securities and distressed debt investments. The Private Equity includes Distressed Buyouts and Debt Investments, Corporate Carve-outs, Opportunistic Buyouts, and Natural Resources.
A capital market invests in non-control debt and non-control equity investments including distressed instruments. As of December 31, 2013, Apollo’s credit segment has a total AUM and fee-generating AUM of $100.9 billion and $88.2 billion across a diverse range of credit-oriented investments that utilize the same disciplined, value-oriented investment philosophy that the Company employs with respect to the private equity funds. The credit segment includes the United States Performing Credit, Structured Credit, Opportunistic Credit, Non-performing Loans, European Credit, and Athene.
Real estate invests in legacy commercial mortgage-backed securities, commercial first mortgage loans, mezzanine investments and other commercial real estate-related debt investments. As of December 31, 2013, the real estate group had total and fee generating AUM of approximately $9.3 billion and $5.9 billion through a combination of investment funds, strategic accounts and Apollo Commercial Real Estate Finance, Inc. (ARI), a publicly-traded, commercial mortgage real estate investment trust managed by Apollo. The Company’s real Estate includes Global opportunistic and value added investments in distressed debt and equity recapitalization transactions, Senior and subordinated debt, and Commercial mortgage backed securities.
As of December 31, 2011, the Company owned three intermediate holding companies APO Corporation (APO Corp), APO Asset Co., LLC (APO Asset), and APO (FC), LLC (APO (FC), (The Intermediate Holding Companies), 34.1% of the economic interests of and operates and controls all of the businesses and affairs of the Apollo Operating Group. AP Professional Holdings, L.P., (Holdings), is the entity through which the Managing Partners and other contributing partners (the Contributing Partners) hold Apollo Operating Group Units (AOG Units) representing 65.9% of the economic interests in the Apollo Operating Group as of December 31, 2010.
The Company distressed and hedge funds with total AUM of $1.9 billion as of December 31, 2011, that primarily invest in North America, Europe and Asia. As of December 31, 2011, Apollo managed the United States and European based mezzanine funds and related investment vehicles with total AUM of $3.9 billion. AIC is a closed-end non-diversified management investment company. AIC’s primary focus is to generate both current income and capital appreciation through investments in subordinated debt, as well as by making investments in certain senior secured loans and or equity in private middle market companies. The Company manages seven senior credit funds with total AUM of $15.4 billion as of December 31, 2011. The senior credit funds together with its private equity funds and certain other capital markets funds. As of December 31, 2011, the fund has portfolio investments throughout Europe with concentration in the United Kingdom, Germany, Spain and Portugal. Apollo European Principal Finance Fund L.P. (EPF) is an investment fund which invests in European commercial and residential mortgage performing and non-performing loans (NPLs) and unsecured consumer loans. NPLs are loans held by financial institutions that are in default of principal or interest payments for 90 days or more.
Apollo Global Management LLC
43rd Floor, 9 West 57th Street
NEW YORK NY 10019
Company Web Links
- Australia's Leighton says forms $880 million joint venture with Apollo Global for services units
- Apollo nearing deal to buy PetSmart for about $8 billion: Bloomberg
- Apollo nearing deal to buy PetSmart for about $8 bln -Bloomberg
- Apollo says it wants to be more like a Wall Street bank
- Exclusive: Apollo Global in the lead to acquire Presidio: sources