Athene’s initial public offering of 31 million class A shares raised $1.1 billion, making Athene the third largest IPO in 2016, according to Inc.com.AAM is a value-oriented investor in corporate credit, private placement, real estate and alternative investments. Financial details of the transaction were not disclosed, although the Alec Burger, GE Capital President & CEO, said, “Apollo’s vast lending experience, complementary platforms, and exceptional track record across diversified assets and geographies make it the ideal partner to accelerate PK AirFinance’s growth. The company is listed on the New York Stock Exchange under ticker ATH. Generally, forward-looking statements include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Today, we are one of the largest fixed index annuity platforms in the United States, based on fixed indexed deferred annuity assets.Our organic channels include retail, flow reinsurance and institutional products. The private equity firm will hold on to 5 out of 15 of Athene’s board seats, according to the companies.The deal speaks to “Apollo’s interest in the insurance sector because Athene is currently raising a sidecar, so they’re invested in that more now because of the increased ownership,” John Barnidge, an analyst at Sandler O’Neill & Partners LP, said in an interview Monday.Jim Belardi, chairman and chief executive officer of Athene said: “This transaction will remove a material impediment to additional index inclusion and strengthen our corporate governance profile by aligning voting rights with the economic interests of all shareholders.” Athene's invested assets are managed by Athene Asset Management LLC (AAM), a subsidiary of Apollo Global Management LLC. Apollo gained 0.2%.The insurer allows the private equity firm to collect money from annuity holders -- what’s known as “permanent capital” -- and invest the assets in the credit funds, distressed debt and buyouts for which Apollo is better known. Athene Holding Ltd.’s credit rating is bbb/BBB+/BBB+ for A.M. Best, S&P and Fitch, respectively. AAM has the ability to meet varied objectives, such as asset liability management support, income generation and risk-based capital investing. Discipline. Apollo … It has also made Apollo the envy of private equity rivals, who have since tried to build up their own insurance businesses.Athene rose 6.3% at 9:40 a.m. in New York trading on Monday. PK AirFinance is a leading aircraft lending business that serves airlines, aircraft traders, lessors, investors and financial institutions globally with loans to borrowers in more than 40 countries. We are confident that this transaction will ensure the continued stability of our business. LONDON/BOSTON (Reuters) - Prudential (PRU.L) sold a minority stake in its U.S. business, Jackson, to Apollo Global-backed Athene Holding (ATH.N) for …
Apollo Announces Second Quarter 2020 Financial Results. We do not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI)Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI)Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI)Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) About Apollo Global Management LLC Drive. Athene accounts for about 25% of Apollo’s overall value and provides Apollo with lower borrowing costs than a typical bank.Athene will have a single share class structure following the transaction, which is expected to close in the first quarter of next year. These are the attributes that set Athene apart and establish us as an industry leader.Our operating subsidiaries’ primary business is issuing, reinsuring and acquiring retirement savings products and similar liabilities through our four distribution channels:With our experienced management team, we have grown from a startup in 2009 to $142.2 billion in total assets, $131.6 billion in liabilities and $9.9 billion in total AHL shareholders' equity.We began operating in 2009 when the burdens of the financial crisis and resulting capital demands caused many companies to exit the retirement market, creating the need for a well-capitalized company with an experienced management team to fill the void.We are relentless when it comes to creating innovative financial solutions and building a strong team to serve our shareholders and policyholders.
This is supplemented by our inorganic channel, which includes M&A and block reinsurance.The institutional channel includes reinsurance and group annuity contracts related to pension risk transfers.The institutional channel includes reinsurance and group annuity contracts related to pension risk transfers.“We formed Athene based on the fundamentals that I had learned working for 20 years at SunAmerica.”The institutional channel includes reinsurance and group annuity contracts related to pension risk transfers. Updates shares in fifth paragraph, analyst comment in eighth paragraph, chart. Deal deepens ties between private equity firm and Athene Apollo is the investment manager of Athene’s entire assets. Athene floated on the stock market in 2016, less than a decade after it was created by a team led by Apollo co-founder Marc Rowan. Last month, Athene Holdings Ltd agreed to reinsure most of the liabilities of U.S. annuities provider Jackson National Life Co, a subsidiary of British insurer Prudential Plc , a deal that increased Apollo’s AUM by about $28 billion. PEMBROKE, Bermuda & NEW YORK--(BUSINESS WIRE)-- Athene Holding Ltd. (“Athene”) (NYSE: ATH), a leading retirement services company, and Apollo Global Management, Inc. (NYSE: APO), (together with its consolidated subsidiaries, “Apollo”) a leading global alternative investment manager, announced that the companies have signed an agreement that will serve to strengthen the strategic … Athene has become an essential fixture in Apollo’s financial apparatus.
2 As of March 31, 2020. Insurer Athene will also purchase a 7% equity stake in Apollo The firm’s executives are focused on growing the permanent capital business, which now comprises 60% of assets and includes Athene…