Latest news with #ApolloGlobalManagementInc
Yahoo
20-05-2025
- Business
- Yahoo
Apollo to Fund $2B PowerGrid Acquisition with $1B Private Debt
Apollo Global Management Inc. (NYSE:APO) is financing its ~$2 billion acquisition of PowerGrid Services from Sterling Group through a ~$1 billion private debt package, as reported by Bloomberg on Tuesday. This financing is being provided by the direct lending businesses of Brookfield Asset Management, Blackstone Inc., and JPMorgan Chase & Co. A team of professional financial investors in a modern office analyzing Investment opportunities. The debt package includes a $650 million term loan, a $200 million delayed-draw term loan, and a $125 million revolving line of credit. The larger term loan will mature in 7 years and will be issued at a discount of 99 cents on the dollar, where PowerGrid will pay an interest rate of 4.75 percentage points over the US benchmark. This interest rate has the potential to decrease by 0.25 percentage points over time. This transaction highlights the growing trend of private credit firms increasing their involvement in financing private equity acquisitions, particularly as M&A activity has seen a slowdown in the broader market. Apollo Global Management Inc. (NYSE:APO) is a private equity firm that specializes in investments in credit, private equity, infrastructure, secondaries, and real estate markets. Apollo announced the acquisition of a majority stake in PowerGrid Services earlier on May 13. PowerGrid Services is a US provider of electric utility maintenance and construction. While we acknowledge the potential of APO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than APO and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Bloomberg
05-05-2025
- Business
- Bloomberg
Apollo's Rowan Says Trade War Has Made US ‘Merely Exceptional'
Apollo Global Management Inc. Chief Executive Officer Marc Rowan said the Trump administration 'is not wrong' in the goals it's seeking through tariffs, but that it risks slowing the economy if it doesn't resolve uncertainty around trade. 'We are the freest-trading country in the world,' Rowan said Monday in a Bloomberg interview from the Milken Institute Global Conference in Beverly Hills. 'It is not clear to me that we have to be, or that we should allow allies and strategic competitors to inhibit our access to their markets.'
Bloomberg
01-05-2025
- Business
- Bloomberg
Apollo Raises $5.4 Billion Fund for Secondhand Private Equity
Apollo Global Management Inc. raised about $5.4 billion for a vehicle that enables investors to cash out of private funds early, spurred by a sluggish dealmaking climate. The fundraising for Apollo's Hybrid Solutions Fund surpassed its target, according to a statement Thursday. It brings the total raised across the firm's Sponsor and Secondary Solutions platform — dubbed S3 — to almost $10 billion since it launched in 2022, it said.
Bloomberg
24-04-2025
- Business
- Bloomberg
Yahoo Is Ready to Buy Chrome Browser If Google Is Forced to Sell
Internet company Yahoo Inc. — backed by owner Apollo Global Management Inc. — would bid for the Chrome web browser if a federal court orders Google to divest it as a remedy for maintaining an illegal monopoly, a senior executive said. Brian Provost, the general manager for Yahoo Search, testified Thursday during Google's trial in Washington that his company estimates the browser would have a sale price in the tens of billions of dollars.
Bloomberg
17-04-2025
- Business
- Bloomberg
State Street Private-Debt ETF Scores No New Flows in Weeks
By and Carmen Arroyo Save Demand for State Street Corp. and Apollo Global Management Inc. 's hotly anticipated private credit exchange-traded fund has virtually dried up, at a time when asset managers have keyed in on reaching retail investors. No new money has flowed into the SPDR SSGA IG Public & Private Credit ETF (ticker: PRIV) since March 4, according to data compiled by Bloomberg. The vehicle now has around $54.6 million in assets, including about $5 million clinched during its first two weeks of existence and initial funding.
