Profile: Apollo Global Management LLC (APO.N)
27 Mar 2017
Apollo Global Management, LLC (Apollo), incorporated on July 3, 2007, is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company's segments include private equity, credit and real estate. The private equity segment invests in control equity and related debt instruments, convertible securities and distressed debt investments. The credit segment invests in non-control corporate and structured debt instruments, including performing, stressed and distressed investments across the capital structure. The real estate segment invests in real estate equity for the acquisition and recapitalization of real estate assets, portfolios, platforms and operating companies, and real estate debt, including first mortgage and mezzanine loans, preferred equity and commercial mortgage backed securities.
The private equity segment includes various businesses, such as distressed buyouts, debt and other investments; corporate carve-outs; opportunistic buyouts; natural resources, and special situations. The distressed securities its funds purchase include bank debt, public high-yield debt and privately held instruments. Its funds also provide debtor-in-possession financing to companies in bankruptcy. The Company focuses on certain types of buyouts, such as physical asset acquisitions and investments in non-correlated assets. The Company also manages AP Alternative Assets, L.P. (AAA).
The Credit segment includes various businesses, which include liquid/performing, drawdown, permanent capital vehicles ex Athene-non-sub-advised, Athene non-sub-advised and advisory. Its liquid/performing category within the credit segment generally includes funds and accounts where the underlying assets are liquid in nature and/or have some form of periodic redemption right. Liquid/performing includes a range of hedge funds, collateralized loan obligations (CLOs) and strategic investment accounts (SIAs) that utilize a range of investment strategies, including performing credit, structured credit, and liquid opportunistic credit. Performing credit strategies focus on income-oriented, senior loan and bond investment strategies that target issuers primarily domiciled in the United States and in Europe. Structured credit strategies target multiple tranches of structured securities. Liquid opportunistic strategies primarily focus on credit investments and that utilize an investment philosophy as its private equity business. This includes investments by its credit funds in a range of primary and secondary opportunities encompassing stressed and distressed public and private securities primarily within corporate credit, including senior loans (secured and unsecured), high yield, mezzanine, derivative securities, debtor in possession financings, rescue or bridge financings, and other debt investments.
The Company's drawdown category within the credit segment includes commitment-based funds and certain SIAs in which investors make a commitment to provide capital at the formation of such funds and deliver capital when called as investment opportunities become available. Drawdown consists of its fund series', including Credit Opportunity Funds, European Principal Finance Funds, and Structured Credit Funds, including Financial Credit Investment Funds and Structured Credit Recovery Funds, as well as other commitment-based funds. Drawdown funds and SIAs utilize a range of investment strategies, including illiquid opportunistic, principal finance and structured credit strategies. Its permanent capital vehicles category within the credit segment includes pools of assets, which are associated with long-term asset management or advisory contracts. The permanent capital vehicles within credit utilize a range of investment strategies, including performing credit and structured credit, as well as directly originated credit. Direct origination relates to the sourcing of senior credit assets, both secured and unsecured, including asset-backed loans, leveraged loans, mezzanine debt, real estate loans, re-discount loans and venture loans. The Permanent Capital Vehicles excluding Athene Non-Sub-Advised Assets category includes all permanent capital vehicles within the credit segment. Apollo, through its subsidiary, Athene Asset Management, L.P. (Athene Asset Management), provides asset management services.
The Company's real estate segment includes various businesses, which include opportunistic equity investing in real estate assets, portfolios, companies and platforms, and commercial real estate debt investments, including first mortgage and mezzanine loans and commercial mortgage backed securities. Its real estate equity funds under management include AGRE U.S. Real Estate Fund, L.P. (U.S. RE Fund I) and Apollo U.S. Real Estate Fund II, L.P. (U.S. RE Fund II), its United States focused opportunistic funds; Apollo Asia Real Estate Fund, L.P. (Asia RE Fund), its Asia-focused opportunistic fund; Trophy Property Development Fund, L.P., a China-focused investment fund, and its legacy Citi Property Investors (CPI) business, the real estate investment management business. With respect to its real estate debt activities, its real estate funds and accounts offer financing across a range of property types and at various points within a property's capital structure, including first mortgage and mezzanine financing and preferred equity. In addition to Apollo Commercial Real Estate Finance, Inc. (ARI), the Company also manages strategic accounts focused on investing in commercial mortgage-backed securities and other commercial real estate loans.
Apollo Global Management LLC
9 W 57th St Fl 43
NEW YORK NY 10019-2700
Company Web Links
- UPDATE 1-Slovenian banks' January joint net profit down by 10.7 pct y/y
- BRIEF-Tiger Global Management reports 7.0 pct passive stake in Apollo Global Management LLC as of March 8 - SEC filing
- BRIEF-Apollo to offer preferred shares
- Apollo affiliate Novitex, SourceHov to merge with Quinpario
- Apollo affiliate Novitex, SourceHov to merge with Quinpario