Apollo Global Management (NYSE:APO) FY Conference September 09, 2025 09:45 AM ET Company ParticipantsJim Zelter - PresidentBen Budish - DirectorBen BudishAll right, good morning, everyone. Welcome to day two of our 23rd Global Financial Services Conference. I'm Ben Budish. I cover the U.S. brokers, asset managers, and exchanges here at Barclays. With us for this next fireside chat, really delighted to have Jim Zelter from Apollo. Jim, thanks so much for being here.Jim ZelterAppreciate it. Always good to be ...

Core Insights - TenFifty Capital has officially launched as a European-focused commercial real estate lending platform targeting small- and mid-market opportunities, led by CEO Hugh Fraser [1][2] - The firm aims to originate €1-2 billion in loans in its first year, focusing on loans ranging from €10-50 million, particularly in a mid-cap market segment that is underserved [2][6] - TenFifty is collaborating with Apollo Global Management to enhance its origination capabilities and provide first lien mortgages secured by high-quality assets [2][3] Company Overview - TenFifty Capital is a non-bank commercial real estate lender founded in September 2025, focusing on the €10-50 million sector of the European real estate debt market [6] - The firm has a presence in key European cities including Amsterdam, Berlin, London, and Madrid, and will invest in core markets such as the UK, Germany, the Netherlands, Spain, Italy, and Ireland [5][6] - The company emphasizes building long-term partnerships with borrowers and aims to bring speed and certainty of execution to its lending process [2][3] Leadership and Experience - Hugh Fraser, the founder and CEO, has extensive experience in the real estate lending sector, having co-founded M7 and managed over €6 billion in financings [3] - Fraser's previous collaboration with Apollo has established a strong foundation for TenFifty, leveraging Apollo's balance sheet and expertise in the real estate market [3][4] Market Focus - TenFifty will focus on various sectors and asset types, including logistics, industrial, retail warehousing, senior/student housing, hospitality, prime office, self-storage, parking, and food retail [4] - The firm aims to address the gap in the small and mid-market European commercial real estate debt space, which is often neglected [3]

Core Insights - Apollo Global Management is participating in the Bank of America 30th Annual Financials CEO Conference on September 16, 2025, with President Jim Zelter as a speaker [1] - As of June 30, 2025, Apollo manages approximately $840 billion in assets [2] Company Overview - Apollo is a high-growth global alternative asset manager focused on providing clients with excess returns across various risk-reward spectrums, including investment-grade credit and private equity [2] - The company has over three decades of investing expertise and offers innovative capital solutions for business growth [2] - Through its retirement services business, Athene, Apollo specializes in financial security solutions, providing a range of retirement savings products [2] - Apollo's investment approach aims to align the interests of clients, businesses, employees, and communities to create positive outcomes [2]

Core Insights - The article discusses the importance of in-depth research in various investment vehicles such as REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs, emphasizing the value of joining iREIT on Alpha for comprehensive analysis [1]. Group 1 - The platform has received 438 testimonials, with most being 5-star ratings, indicating a high level of user satisfaction [1]. - A free 2-week trial is offered, suggesting an opportunity for potential investors to evaluate the service without financial commitment [1].

Acquisition Overview - Apollo Global Management, Inc. has completed the acquisition of Bridge Investment Group Holdings Inc. for $1.5 billion in an all-stock transaction [1][8] - The acquisition enhances Apollo's scale in real estate equity and improves its origination capabilities in growth areas [1][2] Financial Details - Bridge stockholders will receive 0.07081 shares of Apollo stock for each Bridge Class A common share, valued at $11.50 [3] - The transaction is expected to be accretive to Apollo's fee-related earnings and nearly doubles its real estate assets under management (AUM) to over $110 billion [4][8] Strategic Implications - Bridge will operate as a platform company within Apollo's asset management business, retaining its brand and management team [2][8] - The integration of Bridge is anticipated to strengthen Apollo's hybrid and equity offerings, particularly for institutional and wealth clients [4] Growth Strategy - Apollo has been pursuing inorganic growth through acquisitions, including the recent acquisition of Argo Infrastructure Partners and partnerships with Citigroup and State Street [5][6] - The company aims to scale total AUM to $1.5 trillion by 2029, supported by its robust liquidity [6] Market Performance - Over the past year, Apollo shares have increased by 20.9%, outperforming the industry average rise of 18.4% [7]

Core Viewpoint - Apollo has successfully completed the acquisition of Bridge Investment Group in an all-stock transaction, enhancing its real estate business and investment capabilities [1][2]. Company Overview - Apollo is a global alternative asset manager with approximately $840 billion in assets under management as of June 30, 2025, focusing on providing excess returns across various risk-reward spectrums [7]. - Bridge Investment Group, now an affiliate of Apollo, manages around $50 billion in assets as of June 30, 2025, specializing in alternative investments across various asset classes [8]. Transaction Details - Bridge stockholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock, valued at $11.50 per share [3]. - Following the acquisition, Bridge's common stock has ceased trading on the New York Stock Exchange [3]. Strategic Implications - The acquisition is expected to provide Apollo with immediate scale in real estate equity and enhance its ability to originate investments in growth areas of the market [2]. - Bridge's management believes that joining Apollo will allow for significant opportunities to expand and diversify investment verticals and enhance capital formation capabilities [2].

Core Viewpoint - Apollo Global Management plans to launch a $5 billion sports investment fund, marking its first dedicated permanent capital allocation for the sports sector, reflecting a growing trend of private equity firms entering the rapidly expanding sports finance market [1][2] Group 1: Investment Strategy - The new fund will employ a dual investment strategy, providing loans to sports leagues and teams while also acquiring club equity, allowing for stable debt returns and participation in long-term asset appreciation [2] - Apollo's existing investments in the sports sector, including an £80 million loan to Nottingham Forest FC secured by club assets, illustrate its investment strategy [2][3] - The company is also in negotiations to acquire equity in Atlético Madrid, indicating its interest in directly holding quality sports assets [3] Group 2: Market Dynamics - The sports finance market is attracting significant attention from private equity due to traditional lenders' cautious approach, allowing private firms to fill the gap and achieve high returns through quick decision-making and flexible structures [2][3] - Other private equity giants, such as CVC and Ares Management, are also actively investing in the sports sector, indicating a competitive landscape that is driving up transaction valuations and providing more financing options for sports organizations [4][5]

Group 1 - Apollo Global Management plans to launch a $5 billion sports investment fund, marking its first dedicated permanent capital allocation for the sports sector [1][2] - The new fund will focus on lending to sports leagues and teams, as well as acquiring club equity, indicating a systematic approach to sports investments [1][2] - The sports finance market is attracting private equity interest due to traditional lenders' insufficient services in this area, allowing private firms to deploy capital quickly for high returns [1][2] Group 2 - The fund will employ a dual investment strategy, providing loans to sports leagues and teams while also acquiring club equity, which offers stable debt returns and long-term asset appreciation [2][3] - Apollo's existing sports investment portfolio includes notable transactions, such as an £80 million loan to Nottingham Forest FC secured by club assets, and a £40 million loan to Sports Invest Holdings at a 10.25% interest rate [2][3] - Apollo is actively seeking direct ownership of quality sports assets, as evidenced by negotiations to acquire a stake in Atlético Madrid and previous considerations for financing a Manchester United acquisition [3] Group 3 - Apollo is not the only private equity firm interested in sports investments; competitors like CVC and Ares Management are also making significant moves in this space [4][5] - The increasing number of private equity firms entering the sports investment sector is expected to drive up transaction valuations while providing more financing options for sports organizations [6]

Core Insights - Apollo has appointed Yasuo Kashiwagi as Head of Japan to enhance its role in providing flexible private capital solutions in the Japanese market [1][3] - The firm has been active in Asia Pacific for nearly two decades, with a dedicated Tokyo office established in 2019, and has expanded its local team to over 30 professionals [2][3] - The appointment of Kashiwagi is aimed at driving Apollo's strategic growth in Japan, focusing on deepening institutional and regulatory relationships [3][4] Company Strategy - Apollo's strategy in Japan is to provide tailored capital solutions that align with the long-term needs of institutions and corporates, particularly in light of Japan's demographic challenges [4] - The firm aims to build trusted relationships and deliver scalable, flexible capital to address urgent demands for retirement income solutions [4] - Kashiwagi's leadership is expected to enhance Apollo's integrated platform, which manages approximately $20 billion in assets in Japan, offering a full suite of investment strategies [4][5] Market Position - The Japanese market presents long-term structural trends that align with Apollo's strengths, as institutions increasingly seek private capital for financing and partnerships [4] - Apollo's recent activities in Japan include expanding its wealth management, credit, and hybrid businesses, as well as forming new partnerships to enhance lending and retirement offerings [4] - As of June 30, 2025, Apollo manages $840 billion in assets globally, indicating its significant presence and growth potential in the alternative asset management sector [5]

Company Overview - Apollo is a high-growth, global alternative asset manager with a focus on providing clients excess returns across the risk-reward spectrum from investment grade credit to private equity [2] - As of June 30, 2025, Apollo had $840 billion in assets under management, showcasing its significant scale in the asset management industry [2] Business Segments - Apollo's asset management business aims to meet the financial return needs of clients and offers innovative capital solutions for growth [2] - Through its retirement services business, Athene, Apollo specializes in providing retirement savings products and solutions to institutions, helping clients achieve financial security [2] Leadership Engagement - Jim Zelter, President of Apollo Global Management, will participate in a fireside chat at the Barclays Global Financial Services Conference on September 9, 2025, at 9:45 am EDT, indicating the company's active engagement with investors [1]