Apollo Sharpens Its Focus on Europe With $72 Billion Ready for Deals
'Europe is an area [in which] we are investing significant time and resources to expand,' Apollo President Jim Zelter said Tuesday during a call with analysts to discuss the New York firm's most recent results.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Meta Picks Pimco, Blue Owl for $29 Billion Data Center Deal
(Bloomberg) -- Meta Platforms Inc. has selected Pacific Investment Management Co. and Blue Owl Capital Inc. to lead a $29 billion financing for its data center expansion in rural Louisiana as the race for artificial intelligence infrastructure heats up, according to people with knowledge of the matter. All Hail the Humble Speed Hump Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Major Istanbul Projects Are Stalling as City Leaders Sit in Jail What England's New National Cycling Network Needs to Get Rolling Pimco is expected to lead a $26 billion debt portion of the financing, while Blue Owl is providing $3 billion of equity, said the people, who asked not to be identified because the discussions are private. The debt portion is likely to be issued in the form of investment-grade bonds backed by the data center's assets, they said. The social media company has been working with Morgan Stanley to raise funds in a competitive process that pitted some of the largest names in private credit against each other. Apollo Global Management Inc. and KKR & Co. were also vying to lead the financing until the final round of talks, said the people. Other investors may be added at a later stage, they added. Representatives for Meta, Pimco and Blue Owl declined to comment. Morgan Stanley did not immediately respond to a request for comment. Blue Owl Capital shares were up 2.4% in premarket trading on Friday. Meta climbed 0.4%. Private investment firms have been aggressively seeking to deploy capital in transactions secured by physical assets or for higher-rated companies in a bid to differentiate their business. Many see the multi-trillion dollar market for private asset-based finance and data centers in particular as a massive opportunity to expand their revenue streams. Research by the the management consulting firm McKinsey & Co Inc. estimates that data centers will require $6.7 trillion to meet demand for computing power globally by 2030. AI Development The Meta financing will help the firm accelerate its development of artificial intelligence, which executives have said is already producing 'meaningful' revenue for the company. Meta said costs will grow at an even faster pace next year — particularly as it focuses on AI infrastructure needs and the niche technical talent that can fine-tune its models. 'We generally believe that there will be models here that will attract significant external financing to support large-scale data center projects that are developed using our ability to build world-class infrastructure while providing us with flexibility should our infrastructure requirements change over time,' Chief Financial Officer Susan Li told investors during an earnings call last week. Other tech giants have partnered with investment firms to fund AI data centers. Microsoft Corp. has teamed up with BlackRock Inc. to raise $30 billion in private equity capital for strategy that could deploy as much as $100 billion in the space, while Elon Musk's xAI Corp. raised $5 billion in the broadly syndicated debt market in June as it pushes ahead with the build-out of advanced AI models. Earlier this week, Apollo said it had agreed to buy a majority stake in Stream Data Centers. --With assistance from Kat Hidalgo. (Updates with stock price movements in paragraph five.) The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing Russia's Secret War and the Plot to Kill a German CEO It's Only a Matter of Time Until Americans Pay for Trump's Tariffs The Game Starts at 8. The Robbery Starts at 8:01 ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 minutes ago
- Yahoo
How Long It Would Take the 10 Richest People To Go Broke If They Spent $1M a Day
For most of us, the idea of spending $1 million in a day — or even in a year — is unfathomable. But for the richest people in the world, $1 million is a mere drop in the bucket. Billionaires such as Elon Musk and Jeff Bezos could spend $1 million every single day and never run out of money. Also See: Find More: A new study conducted by Gold IRA Custodians revealed how long the world's 10 richest billionaires could sustain spending $1 million every single day before exhausting their net worth — and it's more than their lifetimes by a long shot. Elon Musk Source of wealth: Tesla, SpaceX Net worth: $419.3 billion Time it would take to go broke spending $1M a day: 1,148 years and 9 months Check Out: See More: Larry Ellison Source of wealth: Oracle Net worth: $259.5 billion Time it would take to go broke spending $1M a day: 710 years and 11 months Check This: Mark Zuckerberg Source of wealth: Facebook Net worth: $245.8 billion Time it would take to go broke spending $1M a day: 673 years and 5 months Jeff Bezos Source of wealth: Amazon Net worth: $227.4 billion Time it would take to go broke spending $1M a day: 623 years Warren Buffett Source of wealth: Berkshire Hathaway Net worth: $153.9 billion Time it would take to go broke spending $1M a day: 421 years and 7 months Know More: Steve Ballmer Source of wealth: Microsoft Net worth: $139.6 billion Time it would take to go broke spending $1M a day: 382 years and 5 months Larry Page Source of wealth: Google Net worth: $138.5 billion Time it would take to go broke spending $1M a day: 379 years and 5 months Bernard Arnault and Family Source of wealth: LVMH Net worth: $138.5 billion Time it would take to go broke spending $1M a day: 379 years and 5 months Discover More: Sergey Brin Source of wealth: Google Net worth: $132.5 billion Time it would take to go broke spending $1M a day: 363 years Jensen Huang Source of wealth: Semiconductors Net worth: $129 billion Time it would take to go broke spending $1M a day: 353 years and 5 months Editor's note: Data was sourced from Gold IRA Custodians and is accurate as of July 2, 2025. More From GOBankingRates New Law Could Make Electricity Bills Skyrocket in These 4 States I'm an Economist: Here's When Tariff Price Hikes Will Start Hitting Your Wallet 5 Strategies High-Net-Worth Families Use To Build Generational Wealth 10 Cars That Outlast the Average Vehicle This article originally appeared on How Long It Would Take the 10 Richest People To Go Broke If They Spent $1M a Day Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
14 minutes ago
- Yahoo
Germany to Halt Military Supplies to Israel for Gaza Attacks
(Bloomberg) -- Germany will halt deliveries to Israel of military equipment that could be used in operations in the Gaza Strip, taking the step over concern for humanitarian suffering in the territory. All Hail the Humble Speed Hump Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Major Istanbul Projects Are Stalling as City Leaders Sit in Jail What England's New National Cycling Network Needs to Get Rolling The ban on deliveries of spare parts for tanks and other defense-related goods will be in place until further notice, Chancellor Friedrich Merz said Friday in a statement. The move was prompted by Israeli Prime Minister Benjamin Netanyahu's move to secure approval for a military takeover of Gaza City. 'The German government remains deeply concerned about the ongoing suffering of the civilian population in the Gaza Strip,' Merz said. 'With the planned offensive, the Israeli government bears even greater responsibility than before for providing for them.' The decision is a significant step for Berlin, which has been one of Israel's strongest supporters because of its historical responsibilities stemming from the Holocaust. It was taken amid growing international outrage over the humanitarian disaster unfolding in Gaza during Israel's war against Hamas. In the past few weeks, Merz repeatedly called on Israel to alleviate the 'catastrophic' humanitarian crisis in Gaza and threatened that his government would consider potential further steps should the situation not improve. In his statement, Merz reaffirmed Israel's right to defend itself, but questioned whether further attacks on Gaza can help it achieve its goals of defeating Hamas. Even so, the chancellor's decision to halt supplies is largely symbolic as little in the way of Germany military aid has been sent in recent weeks, and Israel has been getting spare parts for its tanks from the Americans. Through its naval division, Thyssenkrupp AG has served as a key supplier to the Israeli Navy, providing advanced diesel-electric submarines and support through maintenance and parts supply agreements. These vessels form a central component of Israel's military and operate from the Haifa naval base, however it's not clear if they'd be involved in any further attack on Gaza. In Germany, all military exports to conflict areas have to be approved by the federal security council, which meets secretly, and its decisions are not made public. In the case of Israel, military exports have been particularly sensitive. Merz's predecessor, Olaf Scholz, said that Germany would continue to export military equipment, despite growing domestic criticism. Merz's announcement follows a trip by his foreign minister, Johann Wadephul, to Israel and the Palestinian territories last week. Wadephul signaled for the first time that his government could speed up the process of recognizing a Palestinian state should Israel annex the West Bank. Upon his return to Berlin, however, Wadephul softened his tone and said that he had seen some improvements of the humanitarian situation in Gaza. (Updates with) The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing Russia's Secret War and the Plot to Kill a German CEO It's Only a Matter of Time Until Americans Pay for Trump's Tariffs The Game Starts at 8. The Robbery Starts at 8:01 ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data