Apollo Management
From Taighde
Apollo Management is a private equity firm based in the United States.
The Abu Dhabi Investment Authority purchased a 10% stake in July 2007. The stake involved no voting rights or active involvement to avoid any possible backlash.
Founded in 1990, Apollo Management, L.P. is a private equity firm specializing in distressed asset, buyout, turnaround, corporate restructuring, special situation, acquisition, and industry consolidation transactions. The firm prefers to invest in diversified industries, including real estate in companies based in the United States. It seeks to acquire minority positions in growth-oriented companies. The firm has an affiliation with Apollo Investment Corporation and Apollo Real Estate Advisors.
Apollo was one of the first private equity firms to launch a publicly traded fund - Apollo Investment Co. AINV.O, its debt-investment vehicle which was bought to market in 2004. “Launching a publicly traded fund is different than taking part of the firm public, because in doing the latter, a firm is more likely to have to disclose its profits, its conflicts, and even salaries”.
Apollo also launched AP Alternative Assets LP last June, a publicly traded fund on the Euronext that raised $1.5 billion in the offering. ADIA has invested in private-equity firms for some time and it is believed that the company has invested around $600 million in AP Alternative Assets, Reuters reported last year, gobbling up around 40 percent of the shares.
In addition, ADIA has between 15% and 20% of Ares Management LLC, an alternative asset-management firm based in Los Angeles that was spun off by Apollo and is run by Mr. Black's brother-in-law, Tony Ressler.
