|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's Range||33.28 - 33.76|
|52 Week Range||28.00 - 37.35|
|PE Ratio (TTM)||18.81|
|Earnings Date||Oct 30, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||1.86 (5.20%)|
|1y Target Est||40.31|
Fitch Ratings says fundamentals remain strong for alternative investment managers, even as the amount of uncalled investment capital, or dry powder, expands. Industry-wide dry powder reached $1.8 trillion in July 2018, according to Preqin, up 11.6% year to date, the ratings agency says. About 35 percent of capital was in private equity buyout funds.
The $400m of debt, which was sold in May 2016, dropped roughly 7 cents to 85 cents on the dollar, according to trades reported to Finra’s Trace and data from Interactive Data. Data from Interactive Data showed that the price drop in the McGraw-Hill Education debt was among the steepest losses among high-yield corporate bonds over the past 24 hours.
The company on Thursday priced its 40-million share initial public offering at $10 a share, according to a news release. Spartan Energy said in the release that it intends to use the net proceeds from the IPO and a simultaneous private placement of warrants to begin its operations.
NEW YORK, Aug. 06, 2018-- Presidio, Inc., a leading North American IT solutions provider delivering Cloud, Security and Digital Infrastructure solutions to middle-market customers, today announced the ...
Specialist European financial services private equity firm AnaCap Financial Partners on Monday acquired the first lien corporate debt and loan portfolio from Slovenia's second biggest bank Nova KBM (NKBM). The acquisition was made via its AnaCap Credit Opportunities III fund, targeting performing, semi-performing or non-performing credit assets comprising primarily consumer, small-and medium-sized enterprises and mortgage debt across Europe. "In addition to completing this initial debt deal in Slovenia, AnaCap view the geography as highly attractive for further investment and look forward to exploring a programme of additional opportunities there," the firm said in a statement emailed to Reuters.
Apollo Global Management LLC reported earnings below analysts’ forecasts, as the investment firm posted slower growth in the value of its private-equity portfolio. Apollo said the value of its private-equity funds climbed 1.7% in the second quarter, beating the 2.7% drop it posted in the first quarter but slower than the 1.9% gain logged in the year-ago quarter. Rivals Blackstone Group LP and Carlyle Group LP reported private-equity portfolio gains of 9.5% and 3%, respectively, in the latest quarter.
Apollo Global Management, LLC (APO) (together with its consolidated subsidiaries, “Apollo”) today reported results for the second quarter ended June 30, 2018. “By leveraging the power of Apollo’s integrated global platform, we have generated capital inflows of $63 billion in the twelve months ended June 30, 2018, bringing total assets under management to approximately $270 billion,” said Leon Black, Chairman and Chief Executive Officer. Apollo issued a full detailed presentation of its second quarter ended June 30, 2018 results, which can be viewed through the Shareholders section of Apollo’s website at http://www.apollo.com/shareholders.
Apollo Global Management (NYSE: APO ) announces its next round of earnings Thursday. Here is Benzinga's everything-that-matters guide for the Q2 earnings announcement. Earnings and Revenue Wall Street ...
Funds managed by Apollo Global Management, LLC (APO) (together with its consolidated subsidiaries, "Apollo") and Freestone Midstream Holdings, LLC (“Freestone” or the “Company”) announced today that they have formed a strategic relationship to invest in water assets serving the oil and gas industry, with an initial focus on the Powder River Basin in Wyoming. Freestone will identify and evaluate opportunities to acquire, develop, and operate water midstream and services assets serving upstream oil and gas operators across the full lifecycle of each barrel of water, including freshwater sourcing, transportation, logistics and storage, as well as produced water gathering, disposal and recycling. Funds managed by Apollo have provided Freestone with an equity commitment of $200 million in support of the Company’s business plan.
Moody's Investors Service ("Moody's") today downgraded the Corporate Family Rating and Probability of Default rating of The Fresh Market, Inc. to Caa2 from Caa1 and Caa2-PD from Caa1-PD respectively. Moody's also downgraded the rating of the company's $800 million senior secured notes to Caa2 from Caa1.
In the previous part of this series, we saw that Apollo Global Management (APO) has premium valuations. The Blackstone Group’s (BX) inflows rose sequentially in the second quarter. The ratings for Apollo Global Management haven’t changed over the past few months.
KKR & Co. (KKR) reported its second-quarter earnings on July 26. Its EPS was $0.49, which beat analysts’ expectation of $0.45. It had total AUM (assets under management) of $191 billion at the end of the second quarter, which was a YoY (year-over-year) growth of 29%. KKR’s competitor (XLF) the Blackstone Group (BX) had AUM of $439.4 billion as of June 30.
Apollo Global Management’s (APO) PE ratio is 13.29x on an NTM (next-12-month) basis. It has a premium valuation since its peers have an average PE ratio of 12.03x. On an NTM basis, Apollo’s competitors have the following PE ratios: Blackstone Group (BX): 11.41x Carlyle Group (CG): 8.92x KKR & Co. (KKR): 15.77x
In the second half of 2018, Apollo Global Management’s (APO) real estate business could see a negative impact due to expectations of interest rate hikes. Higher rates could make borrowing expensive, and investors might resist real estate investments. A fall in investments could, in turn, impact prices.
Moody's Investor's Service affirmed its ratings for Mood Media Borrower, LLC (Mood Media), including the company's Caa3 Corporate Family Rating (CFR) and Caa3-PD Probability of Default Rating (PDR), and the Ca rating for its senior secured second lien notes. Concurrently, Moody's assigned a Ca rating to the company's incremental senior secured second lien notes. The rating actions follow the company's debt-funded acquisition of Focus Four, one of Mood Media's largest franchisees, for $14.9 million.
Asset managers’ credit segments are very sensitive to interest rate fluctuations. The higher the rates, the more downtrend in asset managers’ credit holdings. Moving forward, the credit segments might witness negative impacts since the Federal Reserve is expected to announce two rate hikes in the second half of 2018.
At the end of the first quarter, investments in public companies accounted for 28% of Apollo Global Management’s (APO) private equity portfolio. The remaining 72% have been deployed in private companies. In the second half of 2018, if the markets witness sharp movements, APO’s private equity portfolio could be impacted.
Johnson Controls International plc will reportedly sell its Power Solutions business to one of four finalists, all of which are private equity firms.
Claire’s Stores Inc. is warning senior creditors including Elliott Capital Management and its private equity sponsor Apollo Global Management that their hold on the company could be slipping. The lenders may get a different form of payout than what they’re promised in the current restructuring plan if the company receives an alternative proposal, the retailer said in Delaware Bankruptcy Court filings on July 25. Junior creditor Oaktree has promised to submit a competing restructuring plan that would improve creditor recoveries over the current proposal.
On August 2, Apollo Global Management (APO) is expected to report its second-quarter results. In the first quarter, it saw subdued performance mainly due to its private equity segment. In the second quarter, it’s expected to report EPS of $0.54, which implies a rise of 17.4% YoY (year-over-year).
Arconic Inc. is weighing takeover approaches from at least two private-equity groups, according to people familiar with the matter, in what would be one of the biggest recent leveraged buyouts. Blackstone Group LP and Carlyle Group LP made a joint approach to the aerospace-parts maker, while Apollo Global Management LLC also expressed interest, the people said. Arconic stock closed Wednesday at $19.26, having surged by more than 10% since The Wall Street Journal reported earlier this month that the company is the subject of private-equity interest.
Berkshire Hathaway’s (BRK.B) liquidity of over $115 billion is rising at a faster pace owing to strong cash flow generation from its BNSF, Manufacturing, Services, Insurance, and Energy segments.