Apollo

Apollo (Apollo Global Management, Inc.) is an asset management and retirement services group founded in 1990 and listed on the New York Stock Exchange under the ticker APO. Its investment business spans credit, equity, and real assets; after its 2022 merger with Athene, asset management and retirement services were brought under the same listed parent company. At the end of June 2026, the group reported assets under management of about $1.047 trillion.

Contents71 sections

Key facts

1990Founding

Apollo was founded in 1990, and its business gradually expanded to cover credit, equity, and real assets investing.⁠[1]

1991Acquisition of the Executive Life Bond Portfolio

Apollo acquired the bond portfolio of the insurance company Executive Life, which became an important project in its early credit investing.⁠[1]

1993Expansion Into Real Estate

Apollo completed fundraising for its first real estate opportunity fund in 1993.⁠[1]

1996Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 1996 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Levitz	July 1, 1996	Apollo-affiliated entities participated in providing $35 million in financing to a Levitz subsidiary and received warrants.	Filed for bankruptcy protection in 1997; the 2001 reorganization plan canceled all old equity.

Amounts retain each source’s currency and transaction basis. The historical records cover equity, credit, real estate, and leasing assets; for signed transactions, the terms listed in the table apply.

⁠[2][3][4]

1997Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 1997 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Ralphs / Food-4-Less	1997	Apollo participated in holding the Food 4 Less/Ralphs group. Fred Meyer agreed to exchange 22.5 million shares of common stock for all of the equity of its parent company, with the agreement including a share-adjustment mechanism.	The announced enterprise value was about $3.1 billion, including assumed debt; Fred Meyer was subsequently merged into Kroger, a later corporate transaction.
Pillowtex	1997	An Apollo-affiliated fund agreed to purchase 65,000 shares of Pillowtex redeemable convertible preferred stock, participating in the financing of its acquisition of Fieldcrest Cannon.	The 2002 reorganization canceled the old common and preferred stock without consideration; the company filed for bankruptcy again in 2003 and closed most of its operations.
WMC Mortgage	1997–2004	Apollo invested in the U.S. home lender WMC Mortgage.	Sold to GE in 2004. Public Integrity reported, based on Apollo documents, that the sale price was nearly $500 million, against an original investment of less than $200 million.
Alliance Imaging	December 1997	Apollo invested $55 million in Alliance Imaging and held about 90% after the recapitalization.	KKR took control in 1999; its $5.60-per-share transaction valued all equity (including options) at about $226.2 million, and Apollo retained some shares.

⁠[5][6][7][8][9][10][11][12][13][14]

1998Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 1998 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Dominick’s	1998	Dominick’s acquisition documents disclosed that Apollo-affiliated entities beneficially owned about 27.2%, with Yucaipa also holding shares.	Safeway made a cash acquisition offer of $49 per share.
Telemundo	1998	Apollo participated in the Telemundo acquisition structure together with Bastion, Liberty Media, and Sony.	In a 2001 recapitalization, Council Tree purchased all of Apollo’s membership interests in Station Partners; that same year NBC signed a subsequent acquisition agreement.
Rent-A-Center	August 1998	Apollo purchased $250 million of convertible preferred stock, participating in the financing of the Rent-A-Center acquisition; a Bear Stearns affiliate invested a further $10 million.	The preferred stock carried cash or payment-in-kind dividend and conversion terms, making it a structured capital investment.
Berlitz	Signed October 2, 1998	Apollo agreed to purchase $100 million of Berlitz convertible subordinated debentures, while Benesse made a separate investment; the funds were used to repay existing debt.	The investment was completed in 1999; in 2001 Benesse acquired the remaining public shares through a $16.50-per-share tender offer and share exchange.
Sirius Satellite Radio	November 1998	Apollo-affiliated funds agreed to purchase $135 million of Sirius Series A convertible preferred stock and gave the company an option, subject to conditions, for an additional $65 million of Series B.	A September 2005 sale agreement provided for the sale of 40 million shares at an underwriter purchase price of $7.046 per share, with sellers receiving $281.84 million.

⁠[15][16][17][18][19][20][21][22][23][24][25]

1999Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 1999 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
National Financial Partners	1999	Apollo provided National Financial Partners with initial equity capital of $125 million; before the 2003 IPO it beneficially owned about 37.2%.	LACERS recorded that Apollo Fund IV distributed $113 million to investors from this investment in the third quarter of 2005.
Wyndham International	1999–2005	Apollo, Thomas H. Lee, and other firms participated in Wyndham International’s capital structure.	The sale to the Blackstone group was completed in August 2005 at $1.15 per common share and $72.17 per Series A/B preferred share; LACERS recorded related third-quarter distributions of $315 million by Apollo Fund IV.
United Rentals	January 1999	United Rentals issued 300,000 shares of perpetual convertible preferred stock to Apollo Fund IV and affiliated funds, raising net proceeds of about $287 million after issuance costs.	The preferred stock had a perpetual term and convertible features.
Pacer International	May 28, 1999	Pacer’s recapitalization involved investors including Apollo-related entities, with total equity contributions of $96.9 million.	At the 2002 IPO, Apollo Fund IV sold 4,368,627 shares and retained shares; the 2014 XPO acquisition was a later corporate transaction.
Clark Retail	July 1999	An Apollo-controlled company acquired Clark’s 672 company-operated retail stores and the Clark trademarks.	Clark Retail and its parent filed for Chapter 11 reorganization in 2002; in July 2004 the bankruptcy estate was liquidated and the case closed.
Corporate Express	October 1999	Apollo and Bain jointly subscribed for $350 million of Buhrmann convertible preferred stock to finance its acquisition of Corporate Express, together obtaining about 22% of the equity.	LACERS disclosed that the company redeemed all of the related preferred stock in the second quarter of 2005, and Apollo Fund IV distributed $319 million as a result.

⁠[26][27][28][29][30][31][32][33][34][35][36][37]

2000Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2000 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Resolution Performance / Resolution Specialty Materials	2000 and 2004	Apollo-affiliated entities acquired control of Shell’s Resolution Performance in November 2000 and of Eastman’s Resolution Specialty business in August 2004.	In 2005 they were combined with Borden, Bakelite, and other businesses to form Hexion.
Encompass Services	February 22, 2000	Apollo exchanged about $106 million of Building One convertible subordinated debt and $150 million in cash for 256,191 shares of Encompass convertible preferred stock.	The 2003 reorganization plan provided zero recovery for existing preferred stock, common stock, and other equity interests.

⁠[38][39][40][41][42]

2001Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2001 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Compass Minerals	November 28, 2001	Apollo acquired control of Compass Minerals from IMC Global through a recapitalization.	IPO in 2003 and further sell-downs in 2004; the 2004 annual report confirmed that Apollo sold its remaining shares in November, reducing its holding to zero.

⁠[43][44]

2002Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2002 and list the disclosed subsequent developments of each investment. Some historical shareholder identities are listed as of the time that contemporaneous public records can confirm.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Breuners	Around 2002	A contemporaneous industry directory listed Apollo as the majority shareholder of furniture retailer Breuners, whose brands included Breuners, Huffman Koos, Good’s, and Wayside.	The directory listed it as operating a furniture retail business.
NRT	April 17, 2002	Cendant acquired the real estate brokerage platform NRT, all of whose common stock had previously been held by Apollo.	The purchase price was about $230 million, including expenses and the conversion of employee equity, paid mainly in Cendant stock; Cendant also assumed and repaid about $320 million of NRT debt.

⁠[45][46][47]

2003Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2003 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Cablecom	2003	Apollo, TowerBrook, and Goldman Sachs-related investors participated in Cablecom’s recapitalization.	On October 24, 2005, Liberty Global acquired all of the equity for CHF 2.826 billion in cash, about $2.185 billion at that day’s rate.
SpectraSite	2003–2004	Apollo invested in tower operator SpectraSite through AP Towers and related funds and participated on its board.	In August 2005 SpectraSite merged with American Tower, with each share exchanged for 3.575 American Tower shares; the buyer’s preliminary accounting purchase price was about $3.1 billion.
Nalco	November 4, 2003	Acquired Nalco together with Blackstone and Goldman Sachs investors. The 2006 annual report lists an adjusted purchase price of about $4.1271 billion, including about $125.6 million of direct costs and excluding about $30.2 million of assumed debt.	IPO in 2004; in March 2006 the consortium sold another 15 million shares, and the company received none of the proceeds from that sale.
GNC	December 5, 2003	The Apollo group acquired nutritional supplement retailer GNC; the equity financing package was $277.5 million, with additional debt financing.	Sold to a new consortium on March 16, 2007, for merger consideration of $1.65 billion, including the repayment of debt and other liabilities.

⁠[48][49][50][51][52][53][54][55][56][57][58][59]

2004Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2004 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Communications Corporation of America	June 8, 2004	A GE refinancing announcement listed Apollo Advisors as one of the shareholders of Communications Corporation of America.	Nexstar completed a $270 million acquisition in January 2015, when the sellers were SP ComCorp and funds related to NexPoint and Highland.
Goodman Global	December 23, 2004	Apollo, the Goodman family, and management acquired Goodman Global, with cash equity financing totaling about $477.5 million.	On February 13, 2008, a Hellman & Friedman consortium completed its acquisition at $25.60 per common share, with total cash consideration for common stock and options of about $1.86 billion.

⁠[60][61][62][63][64]

2005Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2005 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Hexion and Momentive	2005–2006	Hexion was formed by combining several chemical businesses; separately, Apollo acquired GE Advanced Materials in 2006 to form Momentive, at an adjusted purchase price of about $3.78 billion.	Momentive’s 2014 bankruptcy reorganization canceled its old equity; Hexion separately completed a bankruptcy reorganization on July 1, 2019.
Intelsat	January 28, 2005	Apollo acquired satellite operator Intelsat together with Apax, MDP, Permira, and others.	In February 2008, the Serafina consortium completed a subsequent acquisition of Intelsat.
Affinion Group	October 17, 2005	Apollo acquired Cendant’s marketing services division, forming Affinion; the seller disclosed consideration of about $1.7 billion in cash plus additional preferred stock.	Later renamed cxLoyalty; in 2021 JPMorgan acquired its global loyalty business, and the remaining customer engagement business became known as Tenerity.
Metals USA	November 30, 2005	Apollo-affiliated funds acquired Metals USA for $22 per share and later took it public in 2010.	On April 12, 2013, Reliance completed a $20.65-per-share cash acquisition and repaid related Metals USA borrowings.

⁠[39][65][66][67][68][69][70][71][72][73][74][75]

2006Opening of London and Singapore Offices

Apollo opened its first offices outside the United States in London and Singapore. In 2008 it also established its European Principal Finance business.⁠[1]

2006Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2006 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Berry Plastics / Berry Global	2006	Apollo invested in Berry Plastics; the company went public in 2012.	Sold down in stages in 2014; in August it sold its final 14,728,218 shares at an underwriter purchase price of $24.45 per share, for about $360.1 million, after which it no longer held shares.
Sourcecorp	2006	Apollo acquired SourceCorp, which was combined with the HOV Services business in 2011 to form SourceHOV.	In March 2013 a merger agreement was reached with an affiliate of Citi Venture Capital International, under which Apollo’s interest was to be exchanged for cash.
Linens ’n Things	February 14, 2006	Acquired Linens ’n Things with co-investors for total consideration of about $1.3 billion.	Filed for Chapter 11 reorganization in May 2008, followed by store liquidation sales; the 2009 liquidation plan provided no distributions to equity holders.
Rexnord	July 21, 2006	Apollo acquired Rexnord; the cash equity contribution in the financing was $438 million, and management rolled over about $37 million of equity.	IPO in 2012; in November 2014 Apollo sold 14,729,045 shares at an underwriter purchase price of $26.60 per share, with seller proceeds in that offering of about $391.8 million.
Verso Paper	August 2006	Acquired the coated paper business carved out of International Paper for a cash purchase price of about $1.4 billion, forming Verso.	IPO in 2008; entered Chapter 11 reorganization in 2016, and the reorganization plan that took effect in July of that year canceled the old equity.
TNT Logistics / CEVA Logistics	November 2006	Apollo acquired TNT Logistics, forming CEVA. The transaction’s cash-free, debt-free value was €1.48 billion; TNT disclosed proceeds of €1.335 billion, of which €15.5 million was for a retained 5% stake.	Signed an agreement in 2007 to acquire EGL for about $2 billion; withdrew its U.S. IPO filing in 2013.
Allied Waste	December 2006	Allied Waste filings record that Apollo and Blackstone investors exchanged Series A preferred stock for about 110.5 million common shares.	Republic Services acquired Allied Waste in 2008.

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2007Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2007 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Jacuzzi Brands	February 7, 2007	Apollo completed the take-private of Jacuzzi Brands at $12.50 per share in cash; its Zurn business was acquired by Rexnord for $942.5 million.	In 2019 Investindustrial signed an agreement to acquire Jacuzzi from sellers related to Apollo, Ares, and Clearlake; the price was not disclosed in the announcement.
Realogy	April 10, 2007	Completed the take-private of Realogy at $30 per share in cash.	IPO in 2012; after a final sale of 25,125,070 shares in July 2013, it no longer held shares.
Claire’s	May 29, 2007	Apollo-affiliated entities completed the take-private of Claire’s at $33 per share in cash.	After its 2018 bankruptcy reorganization, entities affiliated with creditors including Elliott and Monarch became the main shareholders.

⁠[95][96][97][98][99][100][101][102][103][104][105][106][107]

2008Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2008 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Norwegian Cruise Line	January 2008	Together with TPG, invested $1 billion of equity capital in Norwegian Cruise Line, acquiring 37.5% and 12.5% respectively; Apollo obtained majority control of the board.	IPO in 2013; in December 2018 Apollo sold its final 15,728,782 shares, reducing the funds’ holding to zero.
Caesars / Harrah’s	January 28, 2008	Together with TPG, acquired Harrah’s (later Caesars) for $90 per share in cash.	IPO in 2012; CEOC filed for reorganization in 2015. After the 2017 reorganization and merger, Hamlet held about 20.8% and lost control of Caesars.
SkyTerra Communications	April 9, 2008	Harbinger purchased about 16.4 million shares of SkyTerra common stock and non-voting common stock from Apollo-related entities for a total of about $164 million, along with a warrant transaction.	In 2010 Harbinger completed the take-private of SkyTerra’s remaining shares at $5 per share.

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May 2008Linens ’n Things Files for Bankruptcy Protection

In 2006 Apollo and co-investors acquired home goods retailer Linens ’n Things for total consideration of about $1.3 billion. The company filed for Chapter 11 reorganization in May 2008 and then moved to store liquidation sales. The 2009 liquidation plan provided that equity holders would receive no distributions.⁠[80][81][82][83]

2009Athene Founded

The retirement services company Athene was founded in 2009 and later formed a long-term asset management relationship with Apollo.⁠[1]

2009Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2009 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Unity Media	Signed November 2009	BC Partners and an Apollo-led shareholder group agreed to sell Unitymedia to Liberty Global.	The agreed equity price was €2 billion, plus about €1.5 billion of net debt, for a total transaction value of about €3.5 billion.

⁠[118][119]

2011Listing on the New York Stock Exchange

Apollo Global Management, LLC completed its initial public offering on the New York Stock Exchange under the ticker APO.⁠[1]

2011Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2011 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
CKx	June 21, 2011	Apollo completed the acquisition of CKx at a tender offer price of $5.50 per share.	CORE Media later joined Endemol and Shine in a 2014 joint venture combination; Banijay’s 2020 acquisition of Endemol Shine was a subsequent transaction for this television content group.

⁠[120][121][122][123]

2012Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2012 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Great Wolf Resorts	May 4, 2012	Completed the take-private of Great Wolf Resorts at $7.85 per share; the cost of acquiring all outstanding shares was about $262 million.	The sale to Centerbridge was completed on May 12, 2015; the price was not disclosed in the announcement.
AMC Entertainment	Before August 2012	AMC’s listing documents confirm that Apollo, JPMP, Bain, Carlyle, and Spectrum were financial investors before the Wanda acquisition.	Wanda completed the acquisition on August 30, 2012, investing about $700 million in the acquisition entity.

⁠[124][125][126][127]

2013Acquisition of MidCap Financial

Apollo acquired MidCap Financial, a commercial finance company serving U.S. middle-market businesses, expanding its business of directly originating financing assets.⁠[1]

2013Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2013 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
AmeriHome Mortgage	2013–2021	Apollo, Athene, and management jointly established AmeriHome Mortgage.	Western Alliance completed its acquisition on April 7, 2021, for total consideration of about $1.22 billion, calculated from the closing balance sheet plus a $275 million premium.
McGraw-Hill Education	March 22, 2013	Apollo acquired the education business from the McGraw-Hill group for a purchase price of $2.4 billion in cash.	Platinum Equity completed an acquisition for about $4.5 billion on August 2, 2021.
Hostess snack-cake assets / Twinkies	April 2013	Apollo and Metropoulos acquired brands and assets including Hostess and Dolly Madison from the bankrupt Old Hostess, then restarted production and supply.	Went public in 2016 through a Gores transaction; in 2017 Apollo sold 18,709,927 shares and still retained 3,388,212 shares.
Pitney Bowes Management Services / Novitex / Exela predecessor	Signed July 29, 2013	An Apollo affiliate agreed to acquire the Pitney Bowes management services business, later called Novitex, for $400 million in cash.	In July 2017 it merged with SourceHOV and Quinpario to form Exela, with Novitex’s parent receiving 30.6 million shares.

⁠[128][129][130][131][132][133][134][135][136][137][138][139]

2014Momentive Restructuring

Apollo acquired the GE Advanced Materials business in 2006 and formed Momentive, at an adjusted purchase price of about $3.78 billion. Momentive underwent a bankruptcy reorganization in 2014, and its old equity was canceled. Hexion is a separate Apollo-invested chemicals platform; although it once shared a related management structure with Momentive, its 2019 reorganization was a proceeding of a different legal entity.⁠[65][66][67]

2014Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2014 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Chuck E. Cheese	February 14, 2014	Apollo-controlled Queso completed the acquisition of CEC, the parent of Chuck E. Cheese, for $54 per share in cash.	At the end of 2019 Apollo still controlled all voting power; in June 2020 CEC filed for Chapter 11 bankruptcy protection.
Endemol Shine Group	Signed October 10, 2014	A 50:50 jointly controlled content joint venture platform with 21st Century Fox, combining the Endemol, Shine, and CORE Media businesses.	Banijay completed its acquisition of Endemol Shine on July 3, 2020.

⁠[140][141][142][143][144][122][123]

2015Building an Asia Real Estate Business

Apollo acquired Venator Real Estate Capital Partners, expanding its real estate investing in Asia. The following year, Athene listed on the New York Stock Exchange.⁠[1]

2015Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2015 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
OM Group	Signed June 1, 2015	Apollo funds agreed to acquire OM Group for $34 per share and arranged the sale of its Electronic Chemicals and Photomasks businesses to Platform for a total of $365 million in cash.	Apollo planned to retain three businesses: Magnetic Technologies, Battery Technologies, and Advanced Organics.
Verallia	October 29, 2015	Completed the acquisition of Verallia from Saint-Gobain at an enterprise value of €2.945 billion, with Apollo funds holding 90% and Bpifrance 10%.	IPO in 2019; sold its remaining shares in November 2021, including about 3.7 million shares repurchased by Verallia at €30.50 per share, a repurchase of about €112 million.

⁠[145][146][147][148]

2016Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2016 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
ADT	May 2, 2016	Completed the acquisition of ADT and integrated it with the Protection One group. Total consideration was about $12.114 billion, including about $3.551 billion of assumed debt.	IPO in 2018. As of April 7, 2026, Apollo beneficially owned about 12.7% and retained the right to nominate 20% of the directors.
Diamond Resorts	September 2, 2016	Completed the acquisition of Diamond Resorts at $30.25 per share; the company operates vacation ownership and resort businesses.	In March 2021 Hilton Grand Vacations agreed to acquire it for about 34.5 million shares, with an estimated equity value of about $1.4 billion.
Rackspace Technology	November 3, 2016	Completed the take-private of Rackspace, which operates cloud infrastructure and managed technology services.	Relisted in 2020 under the name Rackspace Technology at an offering price of $21 per share.

⁠[149][150][151][152][153]

July 2016Verso Reorganization Plan Takes Effect

In 2006 Apollo acquired the coated paper business carved out of International Paper for a cash purchase price of about $1.4 billion, forming Verso. Verso went public in 2008 and filed for Chapter 11 reorganization in 2016; the plan that took effect in July of that year canceled the old equity.⁠[86][87][88]

2018Claire’s Changes Main Shareholders After Restructuring

In 2007 Apollo-affiliated entities completed the take-private of Claire’s at $33 per share. After the company’s 2018 bankruptcy reorganization, entities affiliated with creditors including Elliott and Monarch became the main shareholders.⁠[104][105][106][107]

2018Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2018 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
CPV Fairview Energy Center stake	2018	Invested in the construction of the CPV Fairview natural gas combined-cycle power plant.	On December 16, 2021, signed an agreement to sell its 25% interest to DL Energy.
GE energy portfolio	2018	Apollo-managed funds acquired an energy investment portfolio of nearly $1 billion from GE Capital Energy Financial Services, an important milestone in building its infrastructure business.	The acquisition target was a portfolio of GE Capital Energy Financial Services assets.
Qdoba	March 21, 2018	An Apollo affiliate acquired Qdoba from Jack in the Box for about $305 million in cash, subject to closing adjustments.	Sold to Butterfly in 2022 and combined with Modern Restaurant Concepts, forming an expanded restaurant platform.
LifePoint Health	November 16, 2018	An Apollo acquisition vehicle completed the take-private of LifePoint Health at $65 per share in cash and integrated it with RCCH’s hospital business.	Brought LifePoint and RCCH’s community hospitals, outpatient, and other healthcare services onto a single platform.

⁠[154][1][155][156][157][158]

2019Conversion to a Corporation

Apollo converted from a publicly traded partnership to a corporation and established the Insurance Solutions Group to serve retirement services and insurance clients.⁠[1]

2019Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2019 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Lottomatica / Gamenet	Since 2019	Entered the Italian gaming operations market through its investment in Gamenet, later acquired Lottomatica-related businesses and adopted that name.	After the company’s IPO, Apollo sold down in stages; an official case study records that it had fully exited in 2025.
Cox Media Group / Northwest Broadcasting assets	December 17, 2019	Apollo funds completed the acquisition of a majority interest in Cox Media Group, with Cox Enterprises retaining a minority stake.	Combined with the Northwest Broadcasting businesses, the transaction formed an enlarged broadcast television group.

⁠[159][160]

2020Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2020 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Parallel Infrastructure	2020	Apollo carved out the communications infrastructure platform Parallel Infrastructure from Lendlease.	The sale to Harmoni Towers was completed on November 3, 2022.
Covis Pharma	2020	Apollo acquired Covis Pharma; that same year Covis acquired AMAG for $13.75 per share, and Apollo committed about $250 million of additional equity capital.	An out-of-court restructuring was completed on May 30, 2023; Apollo retained a majority interest, and first-lien lenders obtained a significant minority stake.
Cimpress notes and warrants	May 1, 2020	Apollo-affiliated investors paid $294 million for $300 million principal amount of Cimpress 12% second-lien notes and 1,055,377 warrants.	The notes were redeemed in fiscal 2021; fiscal 2025 filings still listed these warrants with a $60-per-share exercise price, expiring in May 2027.
Albertsons preferred investment	June 2020	Apollo-related investors participated in Albertsons’ convertible preferred stock financing; the company received $1.68 billion in cash, with a liquidation preference of $1.75 billion.	As of June 17, 2023, all of the originally issued preferred stock had been converted into Class A common stock.
ADNOC real estate / infrastructure transaction	Signed September 2, 2020	An Apollo-led consortium was to acquire 49% of ADNOC’s real estate lease interest platform, with ADNOC retaining 51%; the underlying real estate portfolio was $5.5 billion, and ADNOC’s upfront proceeds were $2.7 billion.	The arrangement was based on rent under a 24-year master lease, with ADNOC retaining ownership of the underlying assets and responsibility for operations and maintenance.

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June 2020CEC Files for Chapter 11 Protection

In 2014 Apollo-controlled Queso completed the acquisition of CEC, the parent of Chuck E. Cheese, for $54 per share. At the end of 2019 Apollo still controlled all of CEC’s voting power, and in June 2020 CEC filed for Chapter 11 bankruptcy protection.⁠[140][141][142][143]

2021Establishment of Capital Solutions Business

Apollo established its Capital Solutions business, bringing together financing origination, transaction structuring, and distribution capabilities. In May of that year it set up the Global Wealth Management Solutions platform dedicated to individual investors.⁠[1]

2021Investment and Transaction Records (1)

The following records are indexed by transactions that occurred or began in 2021 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
ALTEMIRA (Showa Denko aluminum business and Mitsubishi Materials aluminum business)	2021–2022	First acquired Showa Denko’s aluminum business, then combined it with Mitsubishi Materials’ aluminum business, forming ALTEMIRA in April 2022.	Completion of the sale to MBK Partners was announced on June 3, 2026; the transaction price was not disclosed in the announcement.
US Acute Care Solutions	February 9, 2021	Committed up to $470 million of preferred equity capital to US Acute Care Solutions.	The transaction supported the exit of original investor Welsh Carson, with physicians continuing to hold a majority of the equity.
ABC Technologies	Signed April 13, 2021	Planned to acquire about 51% of ABC Technologies on a fully diluted basis at C$10 per share, for an initial total of about C$276.6 million, plus additional consideration of up to C$0.64 per share.	In 2022, the further subscription and rights offering commitments were 5 million shares each, at C$6.25 per share.
The Michaels Companies	April 15, 2021	Completed the take-private of arts and crafts retailer Michaels at $22 per share, with an agreed equity value of about $3.3 billion and an enterprise value of about $5 billion.	Upon completion of the merger it became a wholly owned subsidiary of the acquisition entity Magic AcquireCo.
Standard Industries / W. R. Grace acquisition financing	April 30, 2021	Committed $600 million to Standard Industries to support its acquisition of W. R. Grace.	The overall acquisition of W. R. Grace, valued at about $7 billion, was carried out by Standard; Apollo provided one of its financings.
Air France Boeing 777F sale-leaseback	May 24, 2021	Completed a sale-leaseback of two Air France Boeing 777 freighters.	The investment was in the aircraft and the lease arrangement.
Total Operations and Production Services (TOPS)	June 8, 2021	Completed the acquisition of a majority stake in Total Operations and Production Services (TOPS).	The company provides electric-driven natural gas compression equipment and services.
Challenger Limited stake	July 6, 2021	Apollo and Athene added an economic interest of about 15% in Challenger, for a combined total of about 18% with their earlier interest, and a total investment of about A$720 million.	The percentage is the two parties’ combined economic interest, involving Australian retirement and financial services businesses.
EmployBridge	July 19, 2021	Completed the acquisition of EmployBridge.	The company provides industrial and other workforce staffing and employment services in the United States.
JSW Cement	August 2, 2021	Committed $100 million of structured capital to India’s JSW Cement.	The investment was for corporate growth and is a minority/structured capital arrangement.
Global Schools Group	August 2, 2021	Committed $155 million of structured capital to India’s Global Schools Group.	The capital was to support the development of its international education services business.
AS Graanul Invest	Signed August 4, 2021	Acquired a majority stake in biomass wood pellet producer Graanul Invest.	At the time of the announcement, its production facilities were located in the Baltic region and the United States.
Yahoo / Verizon Media	September 1, 2021	Completed the acquisition of Yahoo, with the former Verizon Media business adopting the Yahoo name.	Verizon retained a 10% interest as agreed; the transaction totaled about $5 billion, including cash and preferred interests.
Tech Data	September 1, 2021	Completed the combination of Tech Data and SYNNEX, forming TD SYNNEX; the announced transaction value was about $7.2 billion, including net debt.	Consideration included about 44 million SYNNEX shares and $2.7 billion of debt/preferred equity refinancing.
MaxCap Group	Signed September 7, 2021	Acquired up to 50% of Australian real estate credit manager MaxCap.	The investment target was a real estate credit manager.
The New Home Company	September 8, 2021	Completed the acquisition of The New Home Company at $9 per share in cash, with an equity value of about $173 million and an enterprise value of about $338 million.	The homebuilder was delisted from the New York Stock Exchange.
Great Canadian Gaming	September 22, 2021	Completed the acquisition of Great Canadian Gaming at C$45 per share.	The Canadian gaming and entertainment venue operator became a private company.
RDM Group	October 26, 2021	Completed the investment in Reno De Medici, which mainly produces recycled cartonboard; the initial agreement was to purchase about 67% at €1.45 per share.	The company was subsequently consolidated through a tender offer and take-private.

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2021Investment and Transaction Records (2)

The following records are indexed by transactions that occurred or began in 2021 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Broad Reach Power	Signed November 22, 2021	Planned to hold Broad Reach Power jointly with EnCap, 50% each.	The two parties committed up to $400 million in new capital in total; in October 2023 ENGIE completed its acquisition of all interests in Broad Reach Power.
Aqua Finance	Signed November 29, 2021	Athene agreed to acquire control of Aqua Finance at a valuation of about $1 billion; Apollo manages the investment.	Blackstone retained a minority stake; the business is consumer lending.
Smart Start	December 16, 2021	Completed its investment in Smart Start, which operates ignition interlock devices and monitoring services.	The Apollo Impact annual report records this date as the initial investment date.
Kem One Group	December 17, 2021	Completed the acquisition of French chlor-alkali and PVC producer Kem One.	The company operates chlor-alkali and PVC production in France.
Petros PACE Finance	Signed December 20, 2021	Athene agreed to acquire Petros PACE Finance, with Apollo participating as investment manager.	The company provides C-PACE financing for energy efficiency upgrades of U.S. commercial properties.
NextEra Energy Partners renewable portfolio interest	December 29, 2021	Completed the first closing of convertible equity financing for a NextEra Energy Partners project portfolio, investing about $816 million.	The total commitment announced in October was $824 million; the portfolio includes renewable energy projects.

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September 1, 2021Acquisition of Yahoo

Apollo completed its acquisition of Verizon Media, and the business resumed using the Yahoo name. The transaction totaled about $5 billion, including cash and preferred interests; Verizon VerizonVerizon (Verizon Communications Inc.) is one of the largest telecommunications carriers in the United States, formed in 2000 through the merger of Bell Atlantic, one of the “Baby Bells,” and GTE. Headquartered in New York City, it operates a nationwide wireless network, Fios fiber broadband and communications services for businesses and government, and is listed on the New York Stock Exchange and Nasdaq.Open the full entry retained a 10% equity stake as agreed.⁠[187][188]

2022Investment and Transaction Records (1)

The following records are indexed by transactions that occurred or began in 2022 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Foundation Home Loans / Foundation Lending	2022	Athene acquired Foundation Home Loans, with Apollo serving as investment manager; the acquisition agreement was announced in July 2021.	The company website records that it joined the Apollo group in 2022 and rebranded as Foundation in 2026.
Eliant Inventory Solutions	January 24, 2022	Launched the Eliant inventory financing platform with Athene and BNP Paribas.	At the time of the announcement, about $1.3 billion of inventory financing programs had been signed or awarded; this figure is the program business volume.
Aldar transaction	February 14, 2022	Provided Aldar with a $1.4 billion capital package: a $500 million land joint venture, $500 million of perpetual subordinated notes, $300 million of convertible preferred stock, and $100 million of common stock.	The four investment instruments carry different rights and repayment arrangements.
The Venetian Resort Las Vegas / Venetian Expo operations	February 23, 2022	Apollo completed the acquisition of The Venetian’s operating business for $2.25 billion, while VICI separately acquired the real estate for $4 billion.	The operating company entered into a triple-net lease with VICI; the two parts had different consideration and payers.
MAFTEC (Mitsubishi Chemical thermal management materials business)	March 2022	Acquired Mitsubishi Chemical’s thermal management materials business, forming MAFTEC, which produces high-temperature insulation materials.	Signed a sale agreement with Advantage Partners in June 2025; the buyer’s portfolio list records the investment in September 2025.
Primafrio	Signed March 21, 2022	Invested in Spanish temperature-controlled road transport company Primafrio.	The founding shareholders retained a majority interest; Primafrio generated revenue of about €506 million in 2021.
ENPAM real estate portfolio	March 24, 2022	Completed the acquisition of ENPAM’s Italian real estate portfolio for a total of €842 million, comprising 68 properties.	The transaction was carried out by Apollo-managed real estate funds.
Miller Homes	March 31, 2022	Completed the acquisition of U.K. homebuilder Miller Homes from Bridgepoint, with existing management investing.	The acquisition was funded by Apollo and senior secured notes; the company builds homes in England, Scotland, and other regions.
Siebert Williams Shank	Signed April 12, 2022	Provided strategic debt and equity capital to Siebert Williams Shank.	The firm operates securities underwriting and financial services; the public announcement did not state the investment amount.
Novolex	April 13, 2022	Completed the acquisition of a majority stake in Novolex, with Carlyle retaining a minority interest.	Its businesses include foodservice and consumer packaging.
Tony’s Fresh Market / Heritage Grocers	April 20, 2022	Apollo acquired Tony’s Fresh Market, which then had 18 stores in the Chicago area.	The founding family retained an interest; it was later combined with Cardenas to form Heritage Grocers.
GOL Boeing 737 MAX 8 sale-leaseback	July 2022	Apollo-managed funds purchased a Boeing 737 MAX 8 from GOL and immediately leased it back to the airline.	A September 8, 2022, announcement confirmed completion; it is an aircraft leasing asset investment.
Summit Ridge Energy	Signed July 13, 2022	Invested $175 million in community solar developer Summit Ridge Energy.	The company operates U.S. community solar projects; the funds were for development and platform growth.
Cardenas Markets / Heritage Grocers	August 1, 2022	Completed the acquisition of Cardenas Markets from KKR, combining it with Tony’s Fresh Market to form the Heritage Grocers platform.	At the time of the combination, the two grocers had combined revenue of about $1.8 billion; the purchase price was not disclosed.
NFE LNG maritime infrastructure JV	August 15, 2022	Completed the vessel transaction with New Fortress Energy forming Energos Infrastructure, with total consideration of more than $2 billion; Apollo funds held 80% and NFE 20%.	Of the 11 vessels, NFE sold 8 and contributed 3 in exchange for equity; the company’s annual report lists cash proceeds of about $1.85 billion from the sale and financing transaction.
Worldline TSS activities	September 30, 2022	Completed the acquisition of the TSS payment terminals business from Worldline, which then operated independently as Ingenico.	The binding offer in February included an upfront payment of €1.7 billion and preferred interests of up to €900 million; the offer’s total fair value basis was €2.3 billion.
Lumen US-based telecom platform / Brightspeed	October 2022	Completed the acquisition of Lumen’s local wireline business in 20 U.S. states at an agreed price of $7.5 billion.	Began independent operations under the Brightspeed name on October 3, developing fiber and copper networks.
Diameter Capital Partners	October 3, 2022	Acquired a minority stake of about 5% in credit investment manager Diameter.	Diameter continues to operate its credit investment management business independently.

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2022Investment and Transaction Records (2)

The following records are indexed by transactions that occurred or began in 2022 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Tenneco	November 17, 2022	Completed the take-private of Tenneco at $20 per share, with an enterprise value including debt of about $7.1 billion.	Its businesses cover auto parts, powertrain systems, and aftermarket products.

⁠[237][238]

January 3, 2022Completion of Merger with Athene

Apollo and Athene announced the completion of their merger under the listed parent company Apollo Global Management, Inc. The two main businesses are asset management through Apollo Asset Management and retirement services through Athene, with Marc Rowan serving as the group’s chief executive officer. Each Athene Class A common share was exchanged for 1.149 shares of Apollo stock, and the combined listed company adopted a single class of common stock with one vote per share.⁠[239]

February 23, 2022Acquisition of The Venetian Operating Business

Apollo acquired The Venetian’s operating business for $2.25 billion, while VICI Properties VICI PropertiesVICI Properties Inc. is an American experiential real estate investment trust (REIT) in the S&P 500, owning gaming and other experiential properties across the United States and Canada.Open the full entry separately acquired the related real estate for $4 billion. The operating company signed a triple-net lease with VICI, so casino operations and property ownership belong to different investors.⁠[210][211][212]

August 15, 2022Formation of Energos Infrastructure

Apollo-managed funds and New Fortress Energy completed an LNG vessel transaction to form Energos Infrastructure, holding 80% and 20% respectively. The structure included NFE selling 8 vessels and contributing 3 vessels in exchange for equity, for a total of 11 vessels. The closing announcement listed total consideration of more than $2 billion, while NFE’s annual report listed cash proceeds of about $1.85 billion from the sale and financing transaction.⁠[230][231]

2023Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2023 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Atlas Air Worldwide	March 17, 2023	Together with J.F. Lehman and Hill City, completed the take-private of Atlas Air Worldwide at $102.50 per share in cash.	The air cargo company was delisted.
Yondr Group	June 12, 2023	Provided structured capital to Yondr, then held by Cathexis, with Apollo obtaining two board seats.	On July 1, 2025, DigitalBridge and La Caisse completed the acquisition of Yondr from Cathexis and took joint control; the buyers’ announcement did not break out the settlement of Apollo’s original financing instruments.
Intermodal Tank Transport	Signed June 13, 2023	Provided structured equity capital to Intermodal Tank Transport.	The company operates tank containers and logistics services used to transport liquid chemicals, food products, and other goods.
Health Management International / PanAsia Health	June 26, 2023	The Hybrid Value strategy committed to invest in the pan-Asian platform holding Health Management International.	The capital was to support the development of hospitals and healthcare services in Singapore, Malaysia, and other markets.
PetSmart	Signed July 24, 2023	Made a minority equity investment in pet products retailer PetSmart.	BC Partners and GIC retained majority ownership and board control.
United Living	August 1, 2023	Completed its investment in U.K.-based United Living.	The company provides social housing maintenance, new home construction, water and heating, and telecommunications infrastructure services.
Univar Solutions	August 1, 2023	Completed the acquisition of Univar Solutions at $36.15 per share, with an agreed enterprise value of about $8.1 billion.	An ADIA affiliate participated with a minority equity investment.
Accent Family of Companies	August 4, 2023	Completed the investment in Accent, announced on August 7.	The company supplies baling wire, packaging consumables, and equipment used in the recycling industry; investors related to Crossplane and Sims retained minority interests.
Arconic	August 18, 2023	Apollo funds completed the acquisition of Arconic; funds managed by Irenic participated with a minority equity investment.	Arconic ceased trading on the New York Stock Exchange.
Composite Advanced Technologies	August 22, 2023	Acquired a majority stake in CATEC.	The company manufactures and supplies high-pressure gas equipment for transporting compressed natural gas and hydrogen; it later acquired Kelley to form Hydria.
Modern Aviation	Signed November 2, 2023	Planned to acquire a majority interest in Modern Aviation, which operates airport fixed-base operations.	Tiger Infrastructure and management continued to invest.
Hydria / Kelley Leasing Partners	November 14, 2023	Apollo’s majority-owned CATEC acquired Kelley Leasing Partners, forming the Hydria platform.	Combines the manufacturing and leasing of high-pressure gas transport equipment.

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February 2023Establishment of ATLAS SP Partners

Apollo-affiliated funds completed a large-scale first closing of the acquisition of Credit Suisse’s securitized products business and used it to establish ATLAS SP Partners, which focuses on asset-backed financing and capital markets.⁠[1]

May 30, 2023Covis Completes Out-of-Court Restructuring

Apollo acquired Covis Pharma in 2020; that same year Covis acquired AMAG for $13.75 per share, and Apollo committed about $250 million of additional equity capital. The out-of-court restructuring completed on May 30, 2023, adjusted Covis’s capital structure; Apollo retained a majority stake, and first-lien lenders obtained a significant minority interest.⁠[163][164][165]

2024Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2024 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Intel Fab 34 Ireland JV	June 12, 2024	Apollo funds and affiliates invested in a 49% interest in the joint venture for Intel’s Fab 34 in Ireland; in its 2026 repurchase announcement Intel listed the original investment as $11.2 billion.	Intel completed the repurchase of that 49% interest for $14.2 billion on April 8, 2026.
The Travel Corporation	Signed July 16, 2024	Agreed to acquire The Travel Corporation’s travel business, covering 18 brands.	The scope covers travel brands including Trafalgar and Insight Vacations and excludes the Red Carnation Hotel Collection.
Vallourec stake	August 6, 2024	ArcelorMittal announced the completion of its purchase from Apollo funds of about 65.24 million Vallourec shares, about 28.4%.	At €14.64 per share, totaling about €955 million, settled under the arrangements in the announcement.
Vale Oman Distribution Center JV	Signed August 6, 2024	Acquired a 50% interest in the Vale Oman Distribution Center joint venture for $600 million.	The scope covers iron ore distribution facilities; Vale’s pellet business remains wholly owned by Vale.
Purmo Group	August 16, 2024	After the acquisition entity jointly formed by Apollo and Rettig completed its tender offer for Purmo, it controlled about 94.53% of the shares in total.	It then planned to acquire the remaining shares and delist; Apollo’s and Rettig’s intended shares in the acquisition structure were 80% and 20% respectively.
Evri	August 23, 2024	Apollo funds completed the acquisition of U.K. parcel delivery company Evri from Advent.	On October 1, 2025, it completed its combination with DHL eCommerce UK, forming the enlarged Evri Group.
Freedom CNG	September 12, 2024	Acquired a majority interest in Freedom CNG.	The company operates compressed natural gas and renewable natural gas fueling facilities in the Houston area.
The State Group	November 18, 2024	Apollo’s Impact and Clean Transition strategies acquired a majority interest in The State Group.	Blue Wolf retained a minority interest; the company provides industrial and infrastructure engineering services.
Beequip	November 27, 2024	Completed the acquisition of Dutch equipment leasing company Beequip from NIBC.	The investment was made through Apollo’s Aligned Alternatives and other capital channels.
Panasonic Automotive Systems	December 2, 2024	Apollo acquired 80% of Panasonic Automotive Systems through an acquisition structure, with Panasonic Holdings retaining 20%.	The company operates in-vehicle cockpit and electronic systems and moved to an independent management structure after the acquisition.
TotalEnergies Texas solar and BESS portfolio	Signed December 4, 2024	Planned to acquire a 50% interest in a portfolio of TotalEnergies solar and storage assets in Texas.	The portfolio totals 2 GW, including about 1.7 GW of solar and about 0.3 GW of storage.

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September 2024Direct Lending Program Launched with Citi

Apollo and Citi announced a $25 billion private credit and direct lending partnership program. In December, Apollo was added to the S&P 500 S&P 500The S&P 500 is a U.S. large-cap equity index compiled by S&P Dow Jones Indices. It includes 500 leading companies, covers about 80% of available market capitalization and is described by S&P DJI as “widely regarded as the best single gauge of large-cap U.S. equities.”Open the full entry.⁠[1]

2025Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2025 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Barnes Group	January 27, 2025	Completed the all-cash take-private of Barnes Group, at a total enterprise value of about $3.6 billion.	The company’s stock ceased trading and was set to be delisted from the New York Stock Exchange.
Bold Production Services	February 12, 2025	Acquired a majority stake in Bold Production Services.	The company provides equipment and field services to the natural gas industry; the announcement disclosed more than 700 assets.
GFL Environmental Services business / GES	March 1, 2025	Acquired GFL’s environmental services business with BC Partners at an enterprise value of C$8 billion; Apollo and BC Partners each held 28%, and GFL retained 44%.	After HPS exchanged payment-in-kind notes for about 22% on September 3, 2025, Apollo and BC Partners each held about 22% and GFL about 34%; GFL holds an option to repurchase the other interests within five years.
OEG	Signed March 19, 2025	The agreement to acquire a majority stake in offshore energy services provider OEG valued the company at more than $1 billion.	Oaktree retained a minority interest; the business covers offshore containers, equipment, and technical services.
Bullrock Energy Ventures community solar JV	April 23, 2025	Provided a capital commitment of up to $220 million to Bullrock Energy Ventures.	Of this, $100 million is for a solar development portfolio of about 500 MW; the commitment is drawn according to project conditions.
STACK European data center business	Signed April 29, 2025	Planned to acquire STACK’s European data center business, comprising seven data centers in five markets: Stockholm, Oslo, Copenhagen, Milan, and Geneva.	The transaction scope is limited to the listed European assets, covering the Nordic, Italian, and Swiss markets.
International Game Technology Gaming & Digital + Everi	July 1, 2025	Completed the acquisitions of IGT’s Gaming & Digital business and Everi, totaling about $6.3 billion.	The former IGT retained its lottery business and was renamed Brightstar Lottery; the new combination uses the IGT name. Everi shareholders received $14.25 per share, and the former IGT received total cash of about $4.05 billion.
PowerGrid Services	July 2, 2025	Completed the acquisition of a majority stake in PowerGrid Services from the Sterling Group.	The company provides engineering and maintenance services for electric utilities; Sterling and management continued to invest.
RWE German transmission grid JV	Signed September 8, 2025	Committed to invest €3.2 billion in an RWE joint venture holding a 25.1% interest in German grid operator Amprion.	RWE retains operational control; the capital supports investment in the transmission network.
Stream Data Centers	November 3, 2025	Completed a majority equity investment in Stream Data Centers.	Principal and management retained minority interests; the more than 4 GW listed in the announcement is development pipeline capacity.
Trace3	November 3, 2025	Completed the acquisition of technology consulting and IT services provider Trace3, with American Securities retaining a significant minority stake.	Joe Quaglia became chief executive officer, and former CEO Rich Fennessy became executive chairman.

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January 2025Realignment of Group Management Responsibilities

Jim Zelter became president of Apollo Global Management, responsible for operations and key strategic initiatives across the asset management and retirement services businesses. John Zito and Scott Kleinman became co-presidents of Apollo Asset Management, with Zito also responsible for the credit business. Corporate governance materials list Marc Rowan as co-founder, chief executive officer, and chairman.⁠[291]

July 1, 2025Completion of IGT and Everi Business Combination

Apollo-managed funds completed the acquisitions of the former IGT’s Gaming & Digital business and Everi, totaling about $6.3 billion. The new combination uses the IGT name, while the listed former IGT retained its lottery business and was renamed Brightstar Lottery. Everi shareholders received $14.25 per share in cash, and the former IGT received total cash of about $4.05 billion.⁠[282][283]

2026Investment and Transaction Records

The following records are indexed by transactions that occurred or began in 2026 and list the disclosed subsequent developments of each investment.

Company or Asset	Date	Transaction and Capital Arrangement	Subsequent Developments
Kelvion	January 2026	Apollo acquired a majority stake in heat exchange and cooling equipment maker Kelvion, with Triton retaining a minority interest.	On August 31, 2026, signed an agreement to sell it to SLB for about $3.4 billion in cash plus the assumption of about $700 million of debt, with closing expected in the first half of 2027.
Eagle Creek Renewable Energy	January 9, 2026	Completed the acquisition of Eagle Creek from Ontario Power Generation for consideration of $1.48 billion, about C$2.05 billion, including assumed debt and closing adjustments.	As of the end of 2025, the portfolio had 701 MW of in-service capacity, including 698 MW of hydropower and 3 MW of solar.
NSG Group	Signed March 23, 2026	Planned to acquire Japan’s Nippon Sheet Glass (NSG) at an enterprise value of about $3.7 billion, about ¥590 billion; the financing arrangements include a debt-to-equity conversion.	The announcement expected completion around March 2027, subject to shareholder, regulatory, and other closing conditions.
Gatehouse Living Group	April 1, 2026	Acquired Gatehouse Living from Gatehouse Bank, including Gatehouse Investment Management and the Ascend residential management business.	The platform invests in and manages U.K. single-family rental homes.
Air Lease Corporation / Sumisho Air Lease Corporation	April 8, 2026	Completed the acquisition of Air Lease with Sumitomo Corporation, SMBC, and Brookfield at $65 per share in cash; the total transaction value including net debt was about $28.2 billion.	The company was renamed Sumisho AirLease; Apollo and Brookfield each hold about 23.75% of the voting rights, Sumitomo Corporation about 47.51%, and SMBC about 4.99%.
Pembina Gas Infrastructure	Signed April 23, 2026	Planned to acquire a 40% interest in Pembina Gas Infrastructure from KKR.	Pembina retains 60% and operatorship; the agreement proceeds subject to regulatory approvals and other conditions.
Forvia Automotive Interiors	Signed April 27, 2026	Planned to acquire Forvia’s automotive interiors business at an enterprise value of €1.82 billion.	The agreement provides for closing after regulatory approvals and other conditions are met; Forvia expects its net debt to fall by at least €1 billion, a figure disclosed separately from the transaction’s enterprise value.
Prosol Group / Grand Frais ecosystem	May 7, 2026	Acquired a majority stake in French fresh food retailer Prosol from Ardian.	Existing minority shareholders continue to invest; Prosol operates brands including Grand Frais and fresh.
Noble Environmental	May 12, 2026	Apollo funds acquired a majority stake in Noble Environmental, whose business covers waste disposal, landfill gas, and renewable natural gas.	Headquartered in Pittsburgh and founded in 2016; the purchase price was not disclosed in the announcement.
Emerald + Questex	July 14, 2026	Completed the two acquisitions of Emerald and Questex, combining them into a B2B events and media platform.	Emerald shareholders received $5.03 per share in cash, and the company was delisted; Paul Miller is chief executive officer of the combined platform.

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April 8, 2026Intel Repurchases Fab 34 Joint Venture Interest

Apollo-managed funds and affiliates acquired a 49% interest in the joint venture for Intel’s Fab 34 in Ireland in 2024. In a 2026 announcement Intel IntelIntel is a semiconductor company headquartered in Santa Clara, California, founded by Robert Noyce and Gordon Moore in 1968; it introduced the 4004 microprocessor in 1971, its x86 processors have long powered personal computers, it has pursued a foundry strategy since 2021, and Lip-Bu Tan has been its chief executive officer since 2025.Open the full entry listed the original investment as $11.2 billion, and on April 8 it completed the repurchase for $14.2 billion. The subject of the transaction was the fab joint venture interest.⁠[254][255][256][257]

May 4, 2026Final Close of Accord Fund VII

Apollo announced the final close of Accord Fund VII at $1.9 billion of committed capital. Since its launch in 2017, the series has raised a cumulative $11.6 billion; the strategy focuses on price dislocations in liquid credit markets and issuer-specific investment opportunities.⁠[308]

May 5, 2026Final Close of Hybrid Value Fund III

Hybrid Value Fund III held its final close at $6.5 billion. The strategy uses structured equity such as preferred stock and convertible securities to provide funding for corporate growth, acquisitions, shareholder liquidity, and capital structure adjustments.

Fund	Year of Final Close	Committed Capital
Hybrid Value Fund I	2019	$3.3 billion
Hybrid Value Fund II	2022	$4.6 billion
Hybrid Value Fund III	2026	$6.5 billion

The table lists committed capital raised, in U.S. dollars.

⁠[309]

June 9, 2026Participation in Broadcom AI Infrastructure Financing

Apollo-managed funds and affiliates, working with Blackstone BlackstoneBlackstone is an alternative asset manager serving institutional and individual investors. Its official website states that its assets under management exceeded $1.3 trillion as of June 30, 2026.Open the full entry and global banks, led the arrangement of an initial $35 billion capital solution for Broadcom’s AI XPV platform, providing committed capital under a multi-year drawdown arrangement. The first transaction supports Anthropic AnthropicAnthropic is an artificial intelligence research and product company founded in 2021 that develops the Claude models, assistant, and tools such as Claude Code, and operates as a public benefit corporation. Dario Amodei and Daniela Amodei are its co-founders, and its research covers model safety, interpretability, and steerability.Open the full entry’s expansion of more than 1 GW of compute beginning in mid-2026; the platform set a goal of supporting more than 20 GW of build-out by 2028.⁠[310]

June 30, 2026Second-Quarter Assets Under Management and Earnings

Apollo’s second-quarter report discloses assets under management and earnings metrics separately. Assets under management are measured at period end, and earnings are for the quarter ended June 30.

Metric	Value	Basis
Assets under management (AUM)	$1,047 billion	June 30, 2026
Of which: credit	$849 billion	AUM strategy classification
Of which: equity	$198 billion	AUM strategy classification
Fee-generating assets under management	$858 billion	Fee-Generating AUM
Perpetual capital AUM	$621 billion	Perpetual Capital AUM
GAAP net income attributable to common stockholders	$1.336 billion	Second quarter
Adjusted net income (ANI)	$1.314 billion	Non-GAAP measure as defined by the company
Fee related earnings (FRE)	$785 million	Non-GAAP measure as defined by the company
Spread related earnings (SRE)	$877 million	Non-GAAP measure as defined by the company

Non-GAAP measures follow the company’s reported definitions. Assets under management include capital managed for clients and are counted separately from the listed company’s market capitalization and its own assets.

⁠[311]

August 27, 2026Investment in Atlantic Aviation

Apollo-managed funds acquired a significant interest in Atlantic Aviation, with KKR KKRKKR (Kohlberg Kravis Roberts) is an investment firm engaged in alternative asset management, capital markets services, and insurance. Jerome Kohlberg, Henry Kravis, and George Roberts co-founded the firm in 1976. Its managed funds invest in private equity, credit, and real assets, and its subsidiary Global Atlantic operates retirement, life insurance, and reinsurance businesses. KKR listed on the New York Stock Exchange in 2010 under the ticker KKR.Open the full entry-managed funds remaining a significant shareholder. The transaction valued the company at close to $10 billion. Atlantic Aviation provides fixed-base aviation services in the United States, including fueling, hangar rental, and other airport services.⁠[312]

August 30, 2026Capital Arrangement for ONEOK

ONEOK ONEOKONEOK, Inc. is an American midstream energy infrastructure company headquartered in Tulsa, Oklahoma, and listed on the New York Stock Exchange. It was founded in 1906 as an intrastate natural gas pipeline business in Oklahoma.Open the full entry announced plans to acquire Brazos Midstream’s natural gas gathering and processing assets in the Permian’s Midland Basin for $4.425 billion. Apollo-managed funds and affiliates planned to provide $9 billion of non-voting minority equity capital, of which ONEOK planned to use $5 billion to reduce existing debt.⁠[313]

August 31, 2026Kelvion Sale Agreement Signed

Apollo acquired a majority interest in heat exchange and cooling equipment company Kelvion in January 2026, with previous investor Triton retaining a minority interest. On August 31 it signed an agreement to sell to SLB SLBSLB, formerly Schlumberger, is a global technology company founded by the Schlumberger brothers in 1926, renamed SLB in 2022 and listed on the New York Stock Exchange.Open the full entry for about $3.4 billion in cash plus the assumption of about $700 million of debt, with closing expected in the first half of 2027.⁠[292][293]

September 15, 2026Financing for The Executive Centre

Apollo announced that its managed funds, affiliates, and other long-term investors provided $585 million of financing to flexible workspace operator The Executive Centre, mainly to refinance existing debt and to support further expansion. At the time of the announcement, the company operated more than 260 centers in 38 cities across 15 markets in Asia-Pacific and the Middle East.⁠[314]

September 16, 2026Completion of Bayer Capital Solution

Apollo announced that its managed funds and affiliates had completed the €3 billion capital solution for Bayer announced in July, with KKR joining as a minority investor. The funds were invested as equity in a new entity holding Bayer’s long-acting reversible contraception business; Bayer retains majority ownership and full operational control, and the business’s strategy is not changed by the transaction.⁠[315]

September 17, 2026Agreement to Sell Minority Stake in Miller Homes

Apollo-managed funds agreed to sell a minority stake of about 30% in U.K. homebuilder Miller Homes to Japan’s Daiwa House, retaining a controlling position after the transaction. The announcement said closing remains subject to regulatory approvals and other conditions and is expected later in 2026.⁠[316]

September 17, 2026Capital for the BMG and Concord Combination

Apollo announced $1.25 billion of equity capital to support the completed business combination of BMG and Concord. The investment sits in a subsidiary holding the music assets related to the former Concord asset-backed securities, with Apollo acquiring a minority, non-controlling interest; the asset pool involves more than 1 million songs, and part of the funds will repay existing asset-backed securities.⁠[317]

September 29, 2026Completion of Nippon Sheet Glass Acquisition

Apollo announced that its managed funds had completed the acquisition of Nippon Sheet Glass and launched a new management structure. The announcement said the transaction and the support of relevant financial institutions would strengthen the company’s financial foundation and support investment in people and technology. Nippon Sheet Glass’s businesses include architectural, automotive, and solar glass.⁠[318]

October 1, 2026Expanded Daily Pricing Coverage for Credit Assets

Apollo announced that it would extend daily pricing to its credit business of about $850 billion, covering direct lending, asset-backed finance, multi-strategy credit, opportunistic credit, and other areas, continuing the practice applied to investment-grade credit products since July. The daily prices here are fair values estimated using internal methods with reference to public market information and are not market transaction prices. The announcement also planned to provide asset-level daily valuation data to investors in applicable funds starting October 30.⁠[319]

Related Organizations, Websites, and Public Accounts

The official website of Apollo (an asset management and retirement services group) is https://www.apollo.com/ (opens in a new window).⁠[320]

Its official public accounts include X (@apolloglobal), LinkedIn LinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry (Apollo Global Management), and YouTube YouTubeYouTube is Google’s video-sharing and creator platform, founded in 2005 by Steve Chen, Chad Hurley, and Jawed Karim and acquired by Google in 2006. Built around video uploading, viewing, and creator earnings, the platform has developed Shorts, YouTube Music, Premium, YouTube TV, and products for children, and is headquartered in San Bruno, California, United States.Open the full entry (Apollo Global Management).⁠[320]

1990Founding

1991Acquisition of the Executive Life Bond Portfolio

1993Expansion Into Real Estate

1996Investment and Transaction Records

1997Investment and Transaction Records

1998Investment and Transaction Records

1999Investment and Transaction Records

2000Investment and Transaction Records

2001Investment and Transaction Records

2002Investment and Transaction Records

2003Investment and Transaction Records

2004Investment and Transaction Records

2005Investment and Transaction Records

2006Opening of London and Singapore Offices

2006Investment and Transaction Records

2007Investment and Transaction Records

2008Investment and Transaction Records

May 2008Linens ’n Things Files for Bankruptcy Protection

2009Athene Founded

2009Investment and Transaction Records

2011Listing on the New York Stock Exchange

2011Investment and Transaction Records

2012Investment and Transaction Records

2013Acquisition of MidCap Financial

2013Investment and Transaction Records

2014Momentive Restructuring

2014Investment and Transaction Records

2015Building an Asia Real Estate Business

2015Investment and Transaction Records

2016Investment and Transaction Records

July 2016Verso Reorganization Plan Takes Effect

2018Claire’s Changes Main Shareholders After Restructuring

2018Investment and Transaction Records

2019Conversion to a Corporation

2019Investment and Transaction Records

2020Investment and Transaction Records

June 2020CEC Files for Chapter 11 Protection

2021Establishment of Capital Solutions Business

2021Investment and Transaction Records (1)

2021Investment and Transaction Records (2)

September 1, 2021Acquisition of Yahoo

2022Investment and Transaction Records (1)

2022Investment and Transaction Records (2)

January 3, 2022Completion of Merger with Athene

February 23, 2022Acquisition of The Venetian Operating Business

August 15, 2022Formation of Energos Infrastructure

2023Investment and Transaction Records

February 2023Establishment of ATLAS SP Partners

May 30, 2023Covis Completes Out-of-Court Restructuring

2024Investment and Transaction Records

September 2024Direct Lending Program Launched with Citi

2025Investment and Transaction Records

January 2025Realignment of Group Management Responsibilities

July 1, 2025Completion of IGT and Everi Business Combination

2026Investment and Transaction Records

April 8, 2026Intel Repurchases Fab 34 Joint Venture Interest

May 4, 2026Final Close of Accord Fund VII

May 5, 2026Final Close of Hybrid Value Fund III

June 9, 2026Participation in Broadcom AI Infrastructure Financing

June 30, 2026Second-Quarter Assets Under Management and Earnings

August 27, 2026Investment in Atlantic Aviation

August 30, 2026Capital Arrangement for ONEOK

August 31, 2026Kelvion Sale Agreement Signed

September 15, 2026Financing for The Executive Centre

September 16, 2026Completion of Bayer Capital Solution

September 17, 2026Agreement to Sell Minority Stake in Miller Homes

September 17, 2026Capital for the BMG and Concord Combination

September 29, 2026Completion of Nippon Sheet Glass Acquisition

October 1, 2026Expanded Daily Pricing Coverage for Credit Assets

Related Organizations, Websites, and Public Accounts

Sources