Core Viewpoint - Apollo Global Management, Inc. (NYSE:APO) is considered one of the most undervalued stocks currently, with a bullish rating maintained by Morgan Stanley analyst Michael Cyprys, who anticipates growth acceleration in the coming years [1][2]. Group 1: Growth Potential - The company is expected to achieve approximately 10% annual growth in spread-related earnings (SRE) through 2029, driven by structural dynamics such as an aging population increasing demand for retirement products [2]. - The retirement services business, Athene, is highlighted as a key growth driver, with expectations of generating around $880 million in spread-related earnings in Q4 2025 [3]. Group 2: Capital Generation - Apollo Global Management, Inc. has a strong capital generation capability, with $9 billion of deployable capacity, which includes $3 billion of excess equity, $3 billion in undrawn ADIP capital, and approximately $3 billion of untapped leverage [3]. Group 3: Competitive Advantages - Athene's competitive advantages include origination scale, operating efficiency, and credit selection, which are expected to support its growth trajectory [2].

Core Viewpoint - Paramount Skydance Corp. has launched a hostile takeover bid for Warner Bros. Discovery Inc. with the intention of countering Netflix Inc.'s recent acquisition deal [1][14]. Financing and Partnerships - The financing for Paramount's bid includes a $40.7 billion equity commitment backed by major investors such as RedBird Capital Partners, Larry Ellison, and sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi [2][10]. - A $54 billion bridge loan is being arranged, split equally among Bank of America, Citigroup, and Apollo Global Management [6][15]. - The financing partners have agreed to forgo governance rights, which Paramount believes will alleviate concerns from the U.S. Committee on Foreign Investment [13]. Strategic Context - Paramount's bid of $30 per share in cash contrasts with Netflix's offer of $27.75 per share, which is supported by $59 billion in unsecured financing [14]. - Paramount's strategy includes a focus on obtaining an investment-grade rating for the combined company post-acquisition, with plans for deleveraging in the two years following the deal [15]. Historical Context and Negotiations - Paramount has made multiple overtures to Warner Bros. over a 12-week period, including direct meetings between executives [5]. - The initial proposal included financing from Tencent Holdings, which was later removed due to concerns from Warner Bros. [9]. Key Individuals - Larry Ellison, a significant backer of the bid, briefly held the title of the world's richest person and has substantial financial resources, including 1.16 billion shares of Oracle valued at approximately $252 billion [7][8]. - Jared Kushner's Affinity Partners has previously collaborated with Saudi Arabia's Public Investment Fund on other high-profile deals, indicating a pattern of strategic partnerships [11].

THIS IN HER 2026 INVESTMENT THEMES IS LISA THOMAS, MANAGING DIRECTOR AND DEPUTY HEAD OF GLOBAL RESEARCH AT TD COWEN. LISA, GOOD MORNING. GOOD TO SEE YOU. >> HEY, GOOD TO SEE YOU, FRANK.>> SO YOU CAME OUT WITH SOME SOME OUTLOOKS FOR 2026. HOW MUCH OF THIS IS DEPENDENT ON NOT ONLY GETTING A CUT TODAY, BUT THE FED CONTINUING TO CUT. >> YOU KNOW THEY'RE REALLY NOT.THESE ARE THE LONGER TERM THEMES RIGHT. SO EACH YEAR WE REALLY TRY TO PULL BACK THE APERTURE AT TD COWAN AND LOOK AT THE BROAD INVESTMENT THEMES THAT ...

An unexpected name has been spotted in papers filed by Paramount Skydance for the hostile takeover for Warner Bros. Discovery — Jared Kushner, son-in-law of United States President Donald Trump, according to reports by Axios, Bloomberg and Fortune.Notably, Paramount's hostile takeover bid aimed at beating streaming giant Netflix's offer for the legacy studio and streaming platform, has brought together a rather impressive array of investors, lenders, and sovereign wealth funds.Now, reports show that even as ...

(Bloomberg) --Invesco Ltd. is taking another step to expand its presence in private markets, teaming up with LGT Capital Partners on portfolios of alternative assets for US retail and retirement investors.The plan will cover private equity, credit and infrastructure assets as well investments in the market for secondary stakes, the firms said Monday in a statement. It’s at least the second partnership Invesco has struck since late April, when the Atlanta-based firm that manages $2.1 trillion of client asset ...

随着2025年接近尾声，华尔街又到了展望新一年的时刻，阿波罗全球管理公司（Apollo Global Management）的首席经济学家正密切关注市场和经济前景面临的几大关键风险。 在12月4日的报告中，阿波罗全球资本首席经济学家托尔斯滕·斯洛克（Torsten Sløk）带领的团队提出了 2026年投资者应重点关注的五大核心市场风险（包括上行和下行风险）。以下是他重点关注的内容： 1. 美国经济重拾增长动能 斯洛克近期表示，他认为2026年美国经济增长可能会再次加速，因为贸易战风险正在消退，而《大而美 法案》（One Big Beautiful Bill Act，简称OBBBA）有望提振需求。 这一情景下的风险在于，强劲的经济增长将催生新的通胀压力。物价若重新攀升，对市场而言将是不小 的麻烦——因为投资者的看涨逻辑核心是美联储持续降息，而如果通胀再度飙升，美联储降息的意愿将 会大幅下降。 斯洛克认为，市场对AI的乐观情绪可能被高估，2026年AI泡沫或将破裂。他表示，若出现这种情 况，"七巨头"（Magnificent 7）股票可能引发大幅市场回调，同时大型科技巨头的资本支出也会随之减 少。 5. 债券供 ...

As the year winds down, finance pros are scanning the horizon for signals of what 2026 may hold. Apollo chief economist Torsten Sløk sees five risks to markets and the economy. He thinks the US economy will likely reaccelerate, potentially stoking fresh inflation. 'Tis the season for year-ahead outlooks on Wall Street as 2025 winds down, and Apollo Global Management's top economist is eyeing a handful of key risks to the outlook for markets and the economy. Torsten Sløk, chief economist at Apollo ...

David Sambur, Apollo's co-head of private equity, discusses how AI is reshaping the industry and the 2026 private-equity landscape with Romaine Bostick on "The Close." He says that if a company isn't an AI company, it's increasingly unclear whether there's a home for it in the public markets. ...

Apollo CEO Marc Rowan writes some media reports fail to note some facts about private credit, as fears build around the asset class. Bloomberg Chief Wall Street Correspondent Sridhar Natarajan goes over Rowan's so-called myths on "Bloomberg Markets" with Vonnie Quinn. ...

Core Insights - Apollo will have its CEO, Marc Rowan, participate in a fireside chat at the Goldman Sachs US Financial Services Conference on December 10, 2025 [1] - A live webcast of the event will be available on Apollo's Investor Relations website, with a replay accessible shortly after the event [1] Company Overview - Apollo is a high-growth global alternative asset manager with a focus 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 growth [2] - As of September 30, 2025, Apollo managed $908 billion in assets [2]