Latest news with #Apollo Global Management
Wall Street Journal
2 days ago
- Business
- Wall Street Journal
Apollo and Motive Partners Set Up New Private-Markets Servicer
Asset managers Apollo Global Management and Motive Partners are backing the formation of a new private-markets services provider. The new company, set up by combining fund administrator Alchelyst and Apollo spinout Lyra Client Solutions, will offer private-markets fund administration services for institutional investors and wealth advisers. The business is expected to help fund sponsors meet growing investor demands for swift, frictionless and transparent services.
Yahoo
4 days ago
- Business
- Yahoo
HGV Announces Launch of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
ORLANDO, Fla., August 12, 2025--(BUSINESS WIRE)--Hilton Grand Vacations Inc. (NYSE:HGV) ("HGV" or the "Company") today announced a proposed secondary public offering of 7,000,000 shares of the Company's common stock held by certain entities managed by affiliates of Apollo Global Management, Inc. (the "Selling Stockholders"). The underwriters will have a 30-day option to purchase up to an additional 1,050,000 shares of common stock from the Selling Stockholders. The Company is not selling any shares and will not receive any proceeds from the proposed offering. In addition, HGV has authorized the concurrent purchase from the underwriters of up to $40 million of shares of common stock as part of the public offering (the "Share Repurchase") subject to the completion of the offering. The Share Repurchase is made pursuant to the Company's existing repurchase plans. The underwriters will not receive any underwriting fees for the shares being repurchased by the Company. Wells Fargo Securities, LLC is acting as lead book-running manager for the proposed offering. A shelf registration statement (including a prospectus) relating to these securities has been filed with the Securities and Exchange Commission (the "Commission") and is effective. A preliminary prospectus supplement relating to the offering has also been filed with the Commission. Before investing, interested parties should read the shelf registration statement, preliminary prospectus supplement and other documents filed with the Commission for information about HGV and the offering. You may get these documents for free by visiting EDGAR on the Commission's website at Alternatively, a copy may be obtained from: Wells Fargo Securities LLC, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Important Notice This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management's expectations as to the future of HGV and are based on management's beliefs, expectations, assumptions and such plans, estimates, projections and other information available to management at the time HGV makes such statements. Forward-looking statements include all statements that are not historical facts, and may be identified by terminology such as the words "outlook," "believe," "expect," "potential," "goal," "continues," "may," "will," "should," "could," "would," "seeks," "approximately," "projects," "predicts," "intends," "plans," "estimates," "anticipates," "future," "guidance," "target," or the negative version of these words or other comparable words, although not all forward-looking statements may contain such words. The forward-looking statements contained in this press release include statements regarding the proposed public offering, the Share Repurchase and other anticipated future events and expectations that are not historical facts. HGV cautions you that our forward-looking statements involve known and unknown risks, uncertainties and other factors, including those that are beyond HGV's control, which may cause the actual results, performance or achievements to be materially different from the future results. Any one or more of these risks or uncertainties could adversely impact HGV's operations, revenue, operating profits and margins, key business operational metrics, financial condition or credit rating. For a more detailed discussion of these factors, see the information under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in HGV's most recent Annual Report on Form 10-K, which may be supplemented and updated by the risk factors in HGV's quarterly reports, current reports and other filings HGV makes with the SEC, including HGV's most recent Quarterly Report on Form 10-Q. HGV's forward-looking statements speak only as of the date of this communication or as of the date they are made. HGV disclaims any intent or obligation to update any "forward-looking statement" made in this communication to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. About Hilton Grand Vacations Inc. Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company and is the exclusive vacation ownership partner of Hilton. With headquarters in Orlando, Florida, Hilton Grand Vacations develops, markets, and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. Hilton Grand Vacations has a reputation for delivering a consistently exceptional standard of service, and unforgettable vacation experiences for guests and nearly 725,000 Club Members. Membership with the Company provides best-in-class programs, exclusive services and maximum flexibility for our Members around the world. For more information, visit Follow us on Instagram, Facebook, LinkedIn, X (formerly Twitter), Pinterest and YouTube. View source version on Contacts Media Contact: Lauren
Times
06-08-2025
- Business
- Times
Legal & General eyes £42bn of pension risk transfer deals
António Simões, Legal & General's chief executive, is eyeing up £42 billion worth of pension risk transfer deals and said he was 'not concerned' by the threat posed by big new competitors to the sector, including Apollo Global Management and Brookfield. 'There's been a lot of chatter about competition, but I am not concerned. It's healthy. We are the market leader,' he said, adding that L&G was continuing to be disciplined on pricing. Simões was reporting consensus-beating core operating profits of £859 million for the six months to June, up 6 per cent, and expressed confidence in meeting targets for the full year. • Business live: FTSE 100 extends record run One of L&G's most profitable specialisms has been the taking over of the assets and liabilities of legacy pension funds, deals known as pension risk transfer or PRT, and landed £3.4 billion worth of deals in the half, up from £1.5 billion last time. Simões said that in the UK alone, L&G was actively pricing on or could see £42 billion worth of potential deals being done in the next 12 months, including nine of more than £1 billion each. He was unperturbed by the arrival of the private equity group Apollo Global Management, whose European insurance business Athora last month agreed a £5.7 billion deal to buy one of the UK's most active PRT players, Pension Insurance Corp. Canada's giant Brookfield has also entered the PRT market, last week making a £2.4 billion agreed cash offer for Just Group. Employers are keen to offload legacy defined benefit pension schemes, which have long since been closed to their existing employees and are seen by most as a costly distraction. L&G this year struck PRT deals with Deutsche Bank, Inchcape Motors, Sanofi and Honda UK. While the chancellor Rachel Reeves is introducing measures to try to encourage employers to 'run on' their DB schemes in the hope they will push into more productive assets, the insurance industry is confident of huge amounts of PRT business in the next five years. • L&G to hand £5bn back to shareholders after selling US life business Phoenix Group's Standard Life division today announced its biggest ever PRT deal, a £1.9 billion buy-in of the part of the DB scheme sponsored by the insurance broking giant Marsh McLennan, taking on pension promises to 6,500 people. Simões, a former Santander banker who took the top job at L&G in January 2024, said momentum in the business was building after signing an alliance with the Japanese insurer Meiji Yasuda in February and a deal with Blackstone last month to push deeper into private assets. L&G was on track to return £5 billion to shareholders over three years through buybacks and dividends, he said. The interim dividend was set at 6.12p, up 2 per cent, as expected. Many investors hold L&G as an income stock, attracted by the yield of around 8.4 per cent. Shares in L&G were marked down as some analysts expressed disappointment about the solvency ratio, a key measure of capital strength, which dropped to 217 per cent from 223 per cent. Simões said he was very comfortable with the number. L&G is one of Britain's biggest pensions and savings groups and includes an asset management arm responsible for £1.1 trillion of assets. Total assets under management dropped by 1 per cent in the period because of falling bond prices and a weaker dollar. L&G shares fell 2.3 per cent to 255.5p.
