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Ardea is expanding its team by hiring Max Fallstrom from Evercore, while Taula Capital's assets have grown to $6.5bn. Deutsche Bank is seeing a cluster of ex-Citi hires, including CFO Raja Akram and M&A head Alison Harding Jones, raising concerns among long-time employees. Meanwhile, M&A bankers face challenges in 2025 as deal processes elongate, prompting job cuts in the sector.
Fears of a private credit bubble are deemed overstated by UBS Asset Management, which argues that the sector can stabilize the financial system during market stress. Joe Sciortino emphasized that private credit funds typically have lower leverage and better asset-liability matching than traditional banks, while Apollo Global Management's Jim Zelter echoed that the sector is not a bubble, despite some aggressive portfolio strategies. Enhanced monitoring and informed investor awareness of liquidity risks are crucial for maintaining stability in private credit.
Goldman Sachs COO John Waldron is a leading candidate to succeed David Solomon as CEO, emphasizing the bank's commitment to bitcoin and digital assets. He is developing BTC-related services and has restarted the digital asset trading desk, while also exploring blockchain projects and CBDCs. Despite past challenges, including significant losses in retail banking and a corruption scandal, Waldron aims to ensure compliance as the firm ventures into new financial territories.
Price T Rowe Associates Inc. MD increased its stake in Apollo Global Management by 36.9% in Q4, now holding over 6.4 million shares valued at $1.07 billion. Northern Trust Corp and Charles Schwab Investment Management also boosted their positions significantly. Institutional investors own 77.06% of the company, which specializes in private equity and various investment markets. Apollo's stock has seen mixed analyst ratings, with a recent price target cut by Wells Fargo to $177, indicating a potential upside of 22.26%.
Americans are anticipating higher prices for everyday items, with nearly 40% expecting to spend more on groceries in the coming months. Despite this, consumer sentiment is shifting, as over 40% plan to purchase a new vehicle within the year, and interest in home improvements and major purchases like appliances is on the rise.
Citigroup and Apollo Global Management are testing their $25bn private credit partnership by offering financing for the sale of Boeing’s Jeppesen navigation unit, which is expected to attract bids around $7bn. The financing, known as private staple financing, combines Citigroup’s M&A advisory with Apollo’s capital, potentially providing $3bn to $3.5bn in debt support. The deal has progressed to the second round of bidding, with interest from several corporate buyers and private equity firms.
Abu Dhabi-based investment firm MGX is expanding its U.S. operations with key hires from Apollo Global Management and Warburg Pincus. Andy Pickens has been appointed managing director and AI product lead in New York, while David Mamikonyan takes on the role of chief security officer. Emilio Mena Jr. joins as managing director for the legal team, coming from Wafra Inc.
Apollo (NYSE: APO) will have CFO Martin Kelly participate in a fireside chat at the UBS Financial Services Conference on February 10, 2025, at 9:40 am ET. A live webcast will be available on Apollo's Investor Relations website, with a replay accessible afterward.As of September 30, 2024, Apollo managed approximately $733 billion in assets, focusing on providing clients with excess returns across various investment strategies and offering retirement solutions through its subsidiary, Athene.
UBS has maintained a Neutral rating and a $23 price target for Intel, as the company progresses with its $28 billion investment in Ohio's Silicon Heartland, despite previous delays. Intel's stock has gained 11.9% over the past week, but it faces challenges with negative cash flow and earnings per share of -$3.76. The company is also making strategic moves, including a spin-off of Intel Capital and launching new AI-focused processors, while exploring options for its manufacturing operations amidst ongoing industry transitions.
A group of prominent US firms, including Blackstone, KKR, and Apollo, has settled with the SEC, admitting to breaches of documentation rules and incurring fines exceeding $63 million. The violations involved unauthorized communication methods, raising concerns about market transparency. Additionally, Robinhood faces a $45 million fine for failing to report suspicious transactions and inadequate customer protections.
Apollo Global Management, Inc.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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