Apollo Global Management, LLC (NYSE: APO) and its subsidiaries (collectively "Apollo") today announced that they have completed the acquisition of Stone Tower Capital LLC (“Stone Tower”), a leading alternative credit manager with approximately $18 billion 1 of assets under management (AUM) across a variety of alternative credit funds through separately managed accounts, credit opportunity funds and 12 collateralized loan obligations, as well as structured credit funds.
With the closing of the Stone Tower acquisition, which was announced in December 2011, Apollo’s capital markets AUM substantially increases to approximately $50 billion 2, making capital markets Apollo’s largest business segment on an AUM basis. Total AUM for Apollo stands at approximately $93 billion 3 after giving effect to the transaction.
James Zelter, Managing Partner of Apollo Global Management’s Capital Markets Business, said, “We are pleased to complete the acquisition of Stone Tower, one of the industry’s premier independent credit managers. We believe this transaction is consistent with our strategy to broaden Apollo’s credit asset management business and further enhance our significant scale and diversity as a leading global credit manager.”
About Apollo Global ManagementApollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of more than $75 billion as of December 31, 2011, in private equity, credit-oriented capital markets and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com. ___________________________ 1 All AUM figures as of December 31, 2011. Approximately $5 billion of Stone Tower’s structured products AUM consists of SIV unwind advisory contracts, ABS CDOs and other short-term funds which have an estimated remaining life of 12-18 months or less. 2 Apollo’s Capital Markets AUM as of December 31, 2011 was approximately $32 billion. 3 Apollo’s Total AUM as of December 31, 2011 was approximately $75 billion.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV