Apollo Global Management, LLC (NYSE:APO) (together with its
consolidated subsidiaries, “Apollo”) today reported results for the
first quarter ended March 31, 2017.
“Apollo’s strong performance during the first quarter
underscores the power of our integrated platform to consistently
deliver solid investment results,” said Leon Black, Chairman and
Chief Executive Officer. “Our great start in 2017 adds to Apollo’s
momentum and further strengthens its position as a leading global
investment manager with $197 billion of total assets under
management.”
Apollo issued a full detailed presentation of its first quarter
ended March 31, 2017 results, which can be viewed through the
Investor Relations section of Apollo’s website at http://ir.agm.com.
Distributions
Apollo has declared a cash distribution of $0.49 per Class A
share for the first quarter ended March 31, 2017. This
distribution will be paid on May 31, 2017 to holders of record
at the close of business on May 19, 2017. Apollo intends to
distribute to its shareholders on a quarterly basis substantially
all of its distributable earnings after taxes and related payables
in excess of amounts determined by its manager to be necessary or
appropriate to provide for the conduct of its business.
On March 7, 2017, Apollo issued 11,000,000 6.375% Series A
Preferred shares at $25.00 per share, including 1,000,000 of Series
A Preferred shares sold pursuant to the over-allotment option
granted by Apollo to the underwriters. Distributions on the Series
A Preferred shares, when and if declared by the manager of Apollo,
will be payable quarterly on March 15, June 15, September 15 and
December 15 of each year, beginning on June 15, 2017. Distributions
on the Series A Preferred shares are non-cumulative.
Apollo has declared a cash distribution of $0.433854 per Series
A Preferred share, which will be paid on June 15, 2017 to
holders of record at the close of business on June 1, 2017.
This first distribution on Series A Preferred shares is calculated
based on the date of the original issuance.
The declaration and payment of distributions on Class A shares
or Series A Preferred shares are at the sole discretion of Apollo’s
manager. Apollo cannot assure its shareholders that they will
receive any distributions in the future.
Conference Call
Apollo will host a conference call on Friday, April 28,
2017 at 10:00 a.m. Eastern Time. During the call, members of
Apollo’s senior management team will review Apollo’s financial
results for the first quarter ended March 31, 2017. The
conference call may be accessed by dialing (888) 868-4188 (U.S.
domestic) or +1 (615) 800-6914 (international), and providing
conference call ID 90460729 when prompted by the operator. The
number should be dialed at least ten minutes prior to the start of
the call. A simultaneous webcast of the conference call will be
available to the public on a listen-only basis and can be accessed
through the Investor Relations section of Apollo’s website at
http://ir.agm.com.
Following the call, a replay of the event may be accessed either
telephonically or via audio webcast. A telephonic replay of the
live broadcast will be available approximately two hours after the
live broadcast by dialing (800) 585-8367 (U.S. callers) or +1 (404)
537-3406 (non-U.S. callers), passcode 90460729. To access the audio
webcast, please visit Events in the Investor Relations section of
Apollo’s website at http://ir.agm.com.
About Apollo
Apollo is a leading global alternative investment manager with
offices in New York, Los Angeles, Houston, Chicago, St. Louis,
Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai,
Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under
management of approximately $197 billion as of March 31, 2017
in private equity, credit 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.
Forward-Looking Statements
In this press release, references to “Apollo,” “we,” “us,” “our”
and the “Company” refer collectively to Apollo Global Management,
LLC, together with its consolidated subsidiaries. This press
release may contain forward looking statements that are within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These statements include, but are not limited to, discussions
related to Apollo’s expectations regarding the performance of its
business, its liquidity and capital resources and the other
non-historical statements in the discussion and analysis. These
forward-looking statements are based on management’s beliefs, as
well as assumptions made by, and information currently available
to, management. When used in this press release, the words
“believe,” “anticipate,” “estimate,” “expect,” “intend” and similar
expressions are intended to identify forward-looking statements.
Although management believes that the expectations reflected in
these forward looking statements are reasonable, it can give no
assurance that these expectations will prove to have been correct.
These statements are subject to certain risks, uncertainties and
assumptions, including risks relating to our dependence on certain
key personnel, our ability to raise new private equity, credit or
real estate funds, market conditions, generally, our ability to
manage our growth, fund performance, changes in our regulatory
environment and tax status, the variability of our revenues, net
income and cash flow, our use of leverage to finance our businesses
and investments by our funds and litigation risks, among others. We
believe these factors include but are not limited to those
described under the section entitled “Risk Factors” in Apollo’s
annual report on Form 10-K filed with the Securities and Exchange
Commission (the “SEC”) on February 13, 2017, as such factors may be
updated from time to time in our periodic filings with the SEC,
which are accessible on the SEC’s website at www.sec.gov. These
factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in this press release and in other filings. We undertake no
obligation to publicly update or review any forward-looking
statements, whether as a result of new information, future
developments or otherwise, except as required by applicable law.
This press release does not constitute an offer of any Apollo
fund.
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version on businesswire.com: http://www.businesswire.com/news/home/20170428005297/en/
Investor and Media Relations: For investor inquiries
regarding Apollo, please contact:Gary M. SteinHead of Corporate
CommunicationsApollo Global Management,
LLC212-822-0467gstein@apollolp.comorNoah GunnInvestor Relations
ManagerApollo Global Management,
LLC212-822-0540ngunn@apollolp.comorFor media inquiries regarding
Apollo, please contact:Charles ZehrenRubenstein Associates, Inc.
for Apollo Global Management,
LLC212-843-8590czehren@rubenstein.com
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