Apollo said Monday it would acquire longtime affiliate Athene Holdings. Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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. A host of major U.S. firms including Paul, Weiss, Rifkind, Wharton & Garrison and Skadden, Arps, Slate, Meagher & Flom have won roles on asset management juggernaut Apollo's $11 billion takeover. offers FT membership to read for free. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. , CEO of Athene. Together, we will continue to serve the investment return and retirement savings needs of all our clients. 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. 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. 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. Each outstanding Athene class A common share will be exchanged for a fixed ratio of 1.149 common shares of Apollo. Check if your Questions linger as Apollo plans an IPO - The Salt Lake Tribune 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. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Under the terms of the deal, each outstanding Class A common share of Athene will be exchanged for a fixed ratio of 1.149 shares of Apollo common stock. . News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. 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. IR@apollo.com, For Media: Apollo Law began with a simple premise: that employees and consumers should have access to top-flight counsel on appeal. Apollo's Insurer Unit, Athene Holding, Quietly Settles Harassment Case Apollo Global Management said on Monday it will merge with Athene Holding in an $11 billion all-stock deal. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. If you typed the URL into your browser, check that you entered it correctly. M&A was notably slow over the course of 2022, curtailed by the Fed's rising rates as well as economic and geopolitical volatility. Apollo Global: Athene Merger Is The Right Strategy - SeekingAlpha Apollo Completes Merger with Athene and Finalizes Key Governance For cost savings, you can change your plan at any time online in the Settings & Account section. , has two principal subsidiaries: Apollo Asset Management (formerly Apollo Global Management, Inc.), its alternative asset management business, and Athene, its retirement services business. The complaint further alleges that the defendant companiesAviva, Athene, and Apollotogether with other companies and certain individuals, participated in an unlawful RICO enterprise involving phony reinsurance with affiliates. IR@apollo.com. Reporting by Jonathan Stempel in New York; Editing by Dan Grebler. Follow her on Twitter at @agarfinks and on LinkedIn. Simply log into Settings & Account and select "Cancel" on the right-hand side. Communications@apollo.com, Amanda Carstens Steward Black, Apollo's chairman and chief executive officer, told investors at a 2012 conference that Athene is among Apollo's "hidden assets." . "We buy something; we operate the business as if we're going to own it forever," Rowan said. No. 107: Aviva, Athene, and Apollo Are Defendants in a RICO Lawsuit The lawsuit is ongoing. Whether we own it forever or not isn't the point.". For Media: Joanna Rose. Siddiquis lawyer Lisa Solbakken said the emails reflect no wrongful conduct, and the new allegations should be rejected. * 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. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. , Co-Presidents of Apollo Asset Management. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Apollo Global, Athene Get Temporary Halt to Shareholder Lawsuit - Wink Caldera has said he denied possessing confidential Apollo materials. Jim Zelter Siddiqui worked at Goldman Sachs Group Inc. and Oak Hill Capital Partners before joining Apollo. The case is Caldera Holdings Ltd et al v Apollo Global Management LLC et al, New York State Supreme Court, New York County, No. To learn more, please visit www.apollo.com. Five Major US Law Firms Take Roles on $11 Billion Apollo Acquisition Communications@apollo.com. Contacts. 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 It also owns. Jim Belardi Read court documents, court records online and search Trellis.law comprehensive legal database for any state court documents. 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 Ltd, and prevent it from competing with their "golden goose," the insurer Athene Holding Ltd, Athene and Caldera have battled each other for control of American Equity Investment Life Holding Co. , an annuities specialist that put itself up for sale in May, the Financial Times has reported. Apollos Board of Directors is led by non-executive Chair The reference to emails in 2017 smacks of desperation.. Apollo Proposes Merger With Insurance Firm Athene - Business Insider 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. In addition, Apollo expects the enhanced trading profile of its stock to attract a broader and diversified investor base over time. and (212) 822-0491 The company also closed its acquisition of Atlas Air Worldwide, a deal done alongside J.F. For a full comparison of Standard and Premium Digital, click here. 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. offers FT membership to read for free. Then in April, the firm invested $500 million in education tech company Cengage Group in a deal expected to close this summer. People now have to figure out were they good investors or was this all market beta? Click here for the latest trending stock tickers of the Yahoo Finance platform. Athene, through its subsidiaries, is a leading financial services company with total assets of $224.4 billion as of September 30, 2021 and . We want to hear from you. Apollo Sues Two More Executives in Dispute Over Insurance Rival - WSJ Apollo alleges. "It is one of the real luxuries of our business to be able to think long-term and not care what happens on a quarterly basis," he continued. You can still enjoy your subscription until the end of your current billing period. journalists in 50+ countries covering politics, business, innovation, trends and more. Inside P&C is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730, Book a call with a member of the team to discuss your subscription options, WR Berkley halts tax liability underwriting after executive departure, Everest Q1 pre-tax cat losses narrow to $110mn on limited US exposure, Hubs valuation: A shiver passes through the private broking sector, CNA Q1 reserve charge linked to exited London PL book: CEO Robusto, Need to Know: AIG, Hub investment, Aon results, Gain your competitive advantage with Inside P&C. The Apollo entity said it will . 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. The order purports to bar a US-based Athene shareholder, Central Laborers' Pension Fund, from pursuing a lawsuit that accuses Apollo of "looting" the insurance company by charging. Rowan, who co-founded Apollo 31 years ago, has been tasked with running the New York-based firm after board Chairman Leon Black said in January he would step down as chief executive by July, following an independent review of his ties to the late financier and convicted sex offender Jeffrey Epstein. You may change or cancel your subscription or trial at any time online. 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. Bermuda court issues temporary injunction to block Apollo, Athene lawsuit Apollo had $547.6 billion in assets under management (AUM) as 2022 came to a close, according to SEC filings. 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. "While it was happening, it felt really good, and now that its not happening anymore, it doesnt feel so goodWe did just fine over 10 years, but this is the period of time when liquidity has been withdrawn, when were playing offense and lots are playing defense." Got a confidential news tip? 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 terms of an all-stock tax-free transaction are straightforward: Athene's shareholders will get 1.149 shares of APO . To learn more, please visit www.apollo.com. The Central Laborers' Pension Fund agreed to discontinue its suit, filed in Manhattan state court, against both Athene and Apollo after a Bermuda judge issued a temporary . Premium access for businesses and educational institutions. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Sales, spins and splits what are the differences and why do they matter for investors like us? Reuters. 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. Marc Rowan The transaction is expected to close in . We are excited to continue executing on this plan together, said Apollo, Leon Black say ex-partner's theft shows 'betrayal' APOLLO GLOBAL MANAGEMENT, INC. : Persberichten | APO1 * | US03769M1062 Caldera has said he denied possessing confidential Apollo materials. The lawsuit is another chapter in a long-running tussle Black has had with former executive Imran Siddiqui . As a larger and more liquid company with a single class of common stock and industry-leading corporate governance, Apollo is now eligible for inclusion in the S&P 500 index. 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. Premium access for businesses and educational institutions.