Apollo Global Management

Apollo Global Management is a global asset management firm that specializes in credit-oriented capital and real estate markets. Apollo is a high-growth, global alternative asset manager. It seeks to provide clients with an 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.

1990: Lion Advisors (or Lion Capital) was founded to provide investment services to Credit Lyonnais and foreign institutions, seeking to profit from depressed prices in the high-yield market.

1991: The timing of this separation also coincided with Apollo's legal difficulties with the State of California over its purchase of Executive Life Insurance Company.

1992: Lion entered into a more formal arrangement to manage the $3 billion high-yield portfolio for Credit Lyonnais which together with a consortium of other international investors provided the capital for Lion's investment activities.

1993: In April, Apollo Real Estate Investment Fund, L.P., the first in a family of real estate "opportunity funds", was closed with $500 million of investor commitments. Apollo Real Estate Advisers is founded in collaboration with William Mack to seek opportunities in the United States property markets.

1995: Apollo raised its third private equity fund, Apollo Investment Fund III, with $1.5 billion of investor commitments from investors that included CalPERS and the General Motors pension fund. Also, Apollo's founding partner Craig Cogut left the firm to found Pegasus Capital Advisors.

1997: Although the founders of Ares had completed a corporate spin-off with the formation of the firm that year, they had initially maintained a close relationship with Apollo and operated as the West Coast affiliate of Apollo.

1998: During the dot-com bubble, Apollo raised Apollo Investment Fund IV with $3.6 billion of investor commitments.

2001: Apollo raised Apollo Investment Fund V with $3.7 billion of investor commitments.

2002: When Ares raised its first corporate opportunities fund, the firm announced that it would separate from its former parent company. Following the spin-off of Ares, Apollo developed two new affiliates to continue its investment activities in the capital markets.

2003: The first of these new affiliates, founded that year, was Apollo Distressed Investment Fund (DIF) Management a credit opportunity investment vehicle.

2004: In September, funds managed by Apollo and Sterling Partners acquired Connections Academy.

2005: Apollo's investment in the struggling US retailer Linens 'n Things suffered from a significant debt burden and softening consumer demand.

2006: In June, Apollo and Graham Partners announced the acquisition of Berry Plastics, a maker of plastic containers, for $2.25 billion from Goldman Sachs Capital Partners and JPMorgan Partners. In October, Apollo announced a $990 million leveraged buyout of Jacuzzi Brands, a manufacturer of whirlpool baths.

2007: In February, Apollo announced the acquisition of the Smart & Final chain of warehouse-style food and supply stores. In November, the company sold 9% of itself to the Abu Dhabi Investment Authority.

2008: As of April 8, the fund had generated a 10% IRR net of fees. Apollo filed a Form S-1 with the United States Securities and Exchange Commission (SEC) in preparation for an initial public offering on the New York Stock Exchange. Hexion announced in June it would refuse to close the deal, prompting a series of legal actions. In November, Realogy launched an exchange offer for a portion of its debt to provide additional flexibility, prompting a lawsuit from Carl Icahn. Also, Apollo opened an office in India, its first office in Asia.

2009: In December, Apollo announced the acquisition of Cedar Fair Entertainment Company for $635 million and assumed debt valuing the company at $2.4 billion.

2011: Apollo acquired CKx. It was sold for $400 million. In 2011, Henry's chain was merged with Sprouts Farmers Market, which, like Henry's markets, had been founded by Henry Boney.

2012: In March, Apollo acquired the unprofitable Great Wolf Resorts for $703 million.

2013: On March 11, Apollo Global Management made the only bid for the snacks business of Hostess Brands, including Twinkies, for $410 million. Apollo sold out of this investment, making a profit of $1.3 billion.

2014: Apollo acquired Chuck E. Cheese for about $1 billion. Constellis is a private military contractor that was created as a result of a merger between rival contractors Triple Canopy and Academi.

2015: Apollo agreed to acquire OM Group for $1.03 billion.

2016: Funds managed by Apollo Global Management acquired Rackspace.

2017: In June, Apollo bought 80.1% of Philips Lumileds division for $1.5 billion. In November, Apollo loaned $184 million to Kushner Companies to refinance the mortgage on a Chicago skyscraper.

2018: In June, funds managed by Apollo and Värde Partners acquired a majority of OneMain Financial. In December, Apollo cashed out of this investment.

2019: However, on February 14, Cox Media Group announced that it was selling its 14 television stations to Apollo. On April 16, Apollo announced that it would once again acquire Smart & Final for $1.1 billion. In June, Apollo acquired Momentive Performance Materials, General Electric's Advanced Materials (Silicones & Quartz) business for approximately $3.8 billion. On October 23, AGM announced it signed agreements to take a 48.6% stake in Italian gambling group Gamenet SPA.

2020: On February 10, Cox Enterprises bought back the Ohio newspapers it sold to AGM. The FCC required Apollo to reduce the daily newspapers to three days or sell them. Funds managed by Apollo acquired Covis from Cerberus Capital Management. In May, Apollo purchased $1.75 billion of preferred stock in Albertsons Companies.

2021: In March, Co-Founder Marc Rowan formally assumes the role of CEO of Apollo, as part of a planned succession process first announced in January. Funds managed by Apollo Global Management acquired Diamond Resorts International was sold to Hilton Worldwide in August 2021.

2022: In January, Apollo successfully completed its merger with Athene, bringing the two strategic partners together in full alignment under one publicly traded company under the Apollo name. In February, Apollo announced that it would acquire Tenneco for $7.1 billion.

To fund growth and build stronger businesses. Providing innovative solutions throughout the capital structure to fund growth and build stronger businesses.

Striving to the leading provider of retirement income solutions to institutions, companies, and individuals.