apollo athene lawsuit

Jim Zelter Athene Investor Contact Noah Gunn +1 441 279 8534 +1 646 768 7309 ngunn@athene.com Athene Media Contact Karen Lynn +1 441 279 8460 +1 515 342 3910 klynn@athene.com Apollo Investor . For Investors: If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Adviser to Carlyle co-founder David Rubensteins family office registers with the SEC, Glennmont Partners sells Portuguese solar portfolio, Oaktree raises 1.2bn for private debt fund, Game on: Meet the PE firms building sports empires, TPGs Rise Fund II moves closer to target amid rise of impact investing. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. It opened a new office in London in April and invested 1 billion euros about $1.1 billion in real estate assets managed by Germany-based Vonovia. The buyout mogul who created Apollo Global Management Inc. is suing two former employees of Athene Holding Ltd., claiming they covered up efforts to help an ex-partner start a rival firm. Apollo's Insurer Unit, Athene Holding, Quietly Settles Harassment Case These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. This press release contains forward-looking statements that are 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. For a full comparison of Standard and Premium Digital, click here. Apollo's merger with Athene: a Final $29bn-Step in a Long - BSIC Follow Yahoo Finance on Twitter, Facebook, Instagram, LinkedIn, and YouTube. Apollo Global Management is merging with Athene Holding in an $11 billion stock deal that expands Apollo's current 27% stake in Athene. The emails are stark and blatant examples of Siddiquis betrayal of Apollo and Athene when he was still a highly paid Apollo partner and should have been loyal, the filing said. Head of Marketing & Corporate Communications, Athene Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. and These statements are subject to certain risks, uncertainties and assumptions, including risks relating to Apollos dependence on certain key personnel, Apollos ability to raise new Apollo funds, the impact of COVID-19, the impact of energy market dislocation, market conditions, and interest rate fluctuations, generally, Apollos ability to manage its growth, fund performance, the variability of Apollos revenues, net income and cash flow, Apollos use of leverage to finance its businesses and investments by Apollo Funds, Athenes ability to maintain or improve financial strength ratings, the impact of Athenes reinsurers failing to meet their assumed obligations, Athenes ability to manage its business in a highly regulated industry, changes in Apollos regulatory environment and tax status, litigation risks and Apollos ability to recognize the benefits expected to be derived from the Merger. university Existing Apollo shareholders will own about 76% of the combined company, and Athene investors will own the rest. Jay Clayton Apollo, Leon Black say ex-partner's theft shows 'betrayal' If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. , has two principal subsidiaries: Apollo Asset Management (formerly Apollo Global Management, Inc.), its alternative asset management business, and Athene, its retirement services business. "When rates are down and credit is free and liquidity is plentiful, everything moves up and to the right," Rowan told Yahoo Finance at the 2023 Milken Global Conference (video above). Athene and Apollo Announce Closing of Transaction to Strengthen Siddiqui worked at Goldman Sachs Group Inc. and Oak Hill Capital Partners before joining Apollo. Gain a global perspective on the US and go beyond with curated news and analysis from 600 The full list of representatives can be found in the governance section of https://ir.apollo.com/. For cost savings, you can change your plan at any time online in the Settings & Account section. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Scott Kleinman esgSubNav, Discover more about S&P Globals offerings, Global Credit and Risk Symposium: Unlocking Possibilities, JW Marriott Sao Paulo Av. Jim Belardi "If we make decisions as if we're going to own it forever, we usually will make the right decision. Drawing from a depth of appellate experience, Apollo's lawyers utilize an intellectual approach with a singular focus on . The firm has also been building up its presence in Europe. 652175/2018. The private equity firm said last month it would look into changing its corporate governance structure, getting rid of shares with special voting rights that currently give Black and other co-founders effective control of the firm. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Under the terms of the deal, each outstanding Class A common share of Athene will be exchanged for a fixed ratio of 1.149 shares of Apollo common stock. The company does business in private equity and private credit. People now have to figure out were they good investors or was this all market beta? Under the terms of the deal, each outstanding class A common share of Athene will be exchanged for 1.149 shares of Apollo common stock, representing a premium of about 16.5% to Athene's closing share price on Friday. Contacts. Download the Yahoo Finance app for Apple or Android. If you reached this page via our site or search, please let us know by emailing, Epsteins Private Calendar Reveals Prominent Names, First Republic Bank Is Seized and Bulk Sold to JPMorgan, Randi Weingartens Incredible Covid Memory Loss, Disney vs. DeSantis: What to Know About Their Power Struggle, JPMorgan Buys First Republic Bank in Second-Largest U.S. Bank Failure, The Booming Texas Border Town at the Center of a Global Trade Shift. Read the latest financial and business news from Yahoo Finance. . Premium access for businesses and educational institutions. The Apollo-Athene Merger Will Unlock Value - SeekingAlpha NEW YORK and HAMILTON, Bermuda, March 08, 2021 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Athene (NYSE: ATH) have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of approximately $11 billion for Athene. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Simply log into Settings & Account and select "Cancel" on the right-hand side. As the Federal Reserve's May meeting approaches, Apollo Global Management (APO) co-founder and CEO Marc Rowan isn't worried if the tight liquidity environment sticks around. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Asteward@athene.com. We use Apollo Global Management said on Monday it will merge with Athene Holding in an $11 billion all-stock deal, bringing in-house an annuities provider that helped turned it into one of the world's largest corporate credit investors. Siddiquis lawyer Lisa Solbakken said the emails reflect no wrongful conduct, and the new allegations should be rejected. Data is a real-time snapshot *Data is delayed at least 15 minutes. , Co-Presidents of Apollo Asset Management. Black, Apollo's chairman and chief executive officer, told investors at a 2012 conference that Athene is among Apollo's "hidden assets." . Apollo to Acquire Athene Through $11B Deal | ThinkAdvisor Rowan, who co-founded Apollo 31 years ago, has been tasked with running the New York-based firm after board Chairman Leon Black said in January he would step down as chief executive by July, following an independent review of his ties to the late financier and convicted sex offender Jeffrey Epstein. Athene and Apollo have seen tremendous mutual benefit from our longstanding strategic relationship, and now with full alignment our value will be significantly stronger than the sum of our parts, said Log in to keep reading or access research tools. Integrating that business. Apollo and Athene are world-class franchises that have flourished as strategic partners, and we expect the full alignment achieved by our merger will accelerate our collective growth, said Apollo CEO Founded in 2009, Athene also serves as Apollo's partner insurance company and had total assets worth $202.8 billion at the end of 2020, with operations in the United States, Bermuda, and Canada. The allegations were made in response to a July 12 lawsuit in which the former executive, Imran Siddiqui, said Apollo and Black tried illegally to undermine his new venture, Caldera Holdings Ltd, and prevent it from competing with their "golden goose," the insurer Athene Holding Ltd ATH.N. You may change or cancel your subscription or trial at any time online. Still, the alternative asset manager's portfolio continues to get a lot of attention from market watchers, and rightfully so given the high-profile names it holds. Apollo Global Management, Inc. (NYSE: APO), Apollo Commercial Real Estate Finance (NYSE: ARI), MidCap Financial Investment Corp. (NASDAQ: MFIC), Apollo Asset Management (NYSE: AAM PrA-B), Apollo Senior Floating Rate Fund (NYSE: AFT). (Disclosure: Apollo Global Management is the parent company of Yahoo Finance.). Allie Garfinkle is a Senior Tech Reporter at Yahoo Finance. EXHIBIT(S) - 12 (Motion #018) - Final Arbitration Award (Redacted Copy) February 16, 2023. The Apollo entity said it will . Over the last few years, the firm has . The Central Laborers' Pension Fund's lawsuit claims that Apollo is charging "extravagantly expensive" fees that reach hundreds of millions of dollars annually. "We will have total alignment to optimize our strategy and allocate capital efficiently," said Marc Rowan, Apollo's incoming chief executive, who helped set up Athene in 2009. Gain a global perspective on the US and go beyond with curated news and analysis from 600 We support credit card, debit card and PayPal payments. An Illinois pension fund has dropped a lawsuit accusing Apollo of charging "extravagantly expensive" fees to Athene, the life run-off acquirer that it founded. In March, Apollo announced that it would acquire Athene, an annuities provider that Rowan helped create over a decade ago, in a deal that valued it at $11 billion. Eventually, the litigation was brought to a halt by a Bermuda court ordering that any lawsuit should have been filed in the island territory where the . APOLLO GLOBAL MANAGEMENT, INC. : Persberichten | APO1 * | US03769M1062 Read court documents, court records online and search Trellis.law comprehensive legal database for any state court documents. Check if your Click here for the latest trending stock tickers of the Yahoo Finance platform. IR@apollo.com, For Media: Apollo Global, Athene Get Temporary Halt to Shareholder Lawsuit - Wink . The relationships between Apollo and Athene have benefited shareholders and policyholders, according to people with knowledge of the firms' thinking. For a full comparison of Standard and Premium Digital, click here. offers FT membership to read for free. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Jim Belardi The deal would create a $29 billion conglomerate and put . Black, 67, is worth $6.2 billion, according to Forbes magazine. The case is Caldera Holdings Ltd et al v Apollo Global Management LLC et al, New York State Supreme Court, New York County, No. The problem was that Athene's investors had a problem with Apollo's relationship with them, and in 2019 a lawsuit accused Apollo of overcharging Athene by hundreds of millions of dollars for their services. The company does business in private equity and private credit. Apollo believes these factors include but are not limited to those described under the section entitled Risk Factors in the joint proxy statement/prospectus filed by Apollo Global Management, Inc. (formerly known as Tango Holdings, Inc.) with the Securities and Exchange Commission (the SEC) on November 5, 2021, Apollo Asset Management Inc.s (AAM, formerly known as Apollo Global Management, Inc.) Annual Report on Form 10-K filed with the SEC on February 19, 2021 and Quarterly Report on Form 10-Q filed with the SEC on May 10, 2021, and Athenes Annual Report on Form 10-K filed with the SEC on February 19, 2021, its amendment to its annual report on Form 10-K/A filed with the SEC on April 20, 2021 and Quarterly Report on Form 10-Q filed with the SEC on November 8, 2021, as such factors may be updated from time to time in Apollos, AAMs or Athenes periodic filings with the SEC, which are accessible on the SECs website at http://www.sec.gov. Our Standards: The Thomson Reuters Trust Principles. personalising content and ads, providing social media features and to Apollo Global: Athene Merger Is The Right Strategy - SeekingAlpha Apollo Proposes Merger With Insurance Firm Athene - Business Insider We support credit card, debit card and PayPal payments. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. You may change or cancel your subscription or trial at any time online. We use The deal is expected to close in January 2022. In March, Rowan reassured investors that Athene wasn't at risk of a run similar to those seen at regional banks in the aftermath of Silicon Valley Bank's collapse. Athene and Caldera have battled each other for control of American Equity Investment Life Holding Co AEL.N, an annuities specialist that put itself up for sale in May, the Financial Times has reported. Leon Black's Apollo Sues Former Employees - Bloomberg analyse how our Sites are used. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. A hearing on Apollos and Athenes effort to dismiss Calderas lawsuit has not been scheduled. Joanna Rose or Apollo is a global, high-growth alternative asset manager. Apollo Global Management is suing two former employees of its affiliate Athene Holding over their role in helping set up a rival insurance business. Whether we own it forever or not isn't the point.". Apollo has vowed to defend itself in the case, saying the allegations do not have a legal or factual basis. In March, Apollo announced plans to acquire chemical company Univar Solutions for $8.1 billion in an all-cash transaction. Apollo Global Management Inc. is moving to gain full control over Athene Holding Ltd., a large life insurer. Pension fund drops NY lawsuit against Apollo and Athene - Insurance Insider offers FT membership to read for free. Rowan, who co-founded the firm with Josh Harris and Leon Black in 1990, took the helm at Apollo in 2021. Apollo Announces Special Meeting Date to Approve Proposed Merger , while Athene will continue to be led by its CEO Apollo and Athene to Merge in All-Stock Transaction The elaborate 131-page complaint alleges violations of the Racketeer Influenced and Corrupt Organizations Act (RICO). Caldera has said he denied possessing confidential Apollo materials. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. The deal is expected to be completed in January 2022. We want to hear from you. ", "Private equity was not immune to that," he added. The allegations were made in response to a July 12 lawsuit in which the former executive, Imran Siddiqui, said Apollo and Black tried illegally to undermine his new venture, Caldera Holdings. Firm claims ex-workers helped others form competing business, Suit is part of continuing fight with Caldera founder Siddiqui. Global Head of Investor Relations, Apollo We are excited to continue executing on this plan together, said personalising content and ads, providing social media features and to The terms of an all-stock tax-free transaction are straightforward: Athene's shareholders will get 1.149 shares of APO . No. 107: Aviva, Athene, and Apollo Are Defendants in a RICO Lawsuit Management continues to expect the transaction to be credit ratings positive for all rated entities within the combined company. Experts Say Apollo's Athene Acquisition Will Position - PLANSPONSOR See here for a complete list of exchanges and delays. "We buy something; we operate the business as if we're going to own it forever," Rowan said. In addition, Apollo expects the enhanced trading profile of its stock to attract a broader and diversified investor base over time. 3 min read. About Athene. Apollo said Monday it would acquire longtime affiliate Athene Holdings. Apollo accused of 'looting' affiliate insurer Athene Reporting by Jonathan Stempel in New York; Editing by Dan Grebler. Marc Rowan The lawsuit is ongoing. . (515) 342 6473 The lawsuitfiled in New Yorkon Friday is the latest salvo in a long-running dispute between the private equity firm led by Leon Black and Imran Siddiqui, a former Apollo executive. To learn more, please visit www.apollo.com. Apollo recently owned about 10 percent of Athene and controlled more than one-third of its voting power, according to a regulatory filing. "While it was happening, it felt really good, and now that its not happening anymore, it doesnt feel so goodWe did just fine over 10 years, but this is the period of time when liquidity has been withdrawn, when were playing offense and lots are playing defense." Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. The latest suit, filed Friday, is against Stephen Cernich and Huan Tseng, formerly of Athene AI-powered legal analytics, workflow tools and premium legal & business news. And that trend has continued in 2023 so far. Global Head of Corporate Communications, Apollo. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Apollo Global Management Inc. is suing two former employees of its affiliate Athene Holding Ltd. over their role in helping set up a rival insurance business. Apollo and Athene will seek a permanent injunction in Bermuda, where Athene was incorporated. Though 2023 won't be a year defined by "new toys," as Rowan said previously, Apollo has done a handful of big deals while moving others over the finish line. 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