Apollo Global Management

{{history of private equity and venture capital}}

Apollo, originally referred to as Apollo Advisors, was founded after the collapse of Drexel Burnham Lambert in 1990 by Leon Black, the former head of Drexel's mergers and acquisitions department, along with Josh Harris and Marc Rowan.{{cite news | url=https://www.nytimes.com/1988/12/17/business/drexel-divided-on-settlement.html | title=Drexel Divided on Settlement | first=Steven | last=Labaton | work=The New York Times | date=December 17, 1988 | url-access=limited}} Tony Ressler, another former senior Drexel executive, was also among the firm's original members.{{cite news | url=https://www.nytimes.com/1990/08/24/business/ex-drexel-executives-arrange-aid-for-fruit-of-the-loom.html | title=Ex-Drexel Executives Arrange Aid for Fruit of the Loom | first=Kurt | last=Eichenwald | work=The New York Times | date=August 24, 1990 | url-access=limited}}{{cite news | url=https://www.nytimes.com/1989/03/11/business/changes-at-drexel-continue.html | title=Changes at Drexel Continue | first=Kurt | last=Eichenwald | work=The New York Times | date=March 11, 1989 | url-access=limited}}{{Cite news | url=https://www.nytimes.com/1989/10/15/business/drexel-s-uncertain-future.html | title=Drexel's Uncertain Future | first=Kurt | last=Eichenwald | work=The New York Times | date=October 15, 1989 | url-access=limited}}{{cite book |last1=Morgenson |first1=Gretchen |last2=Rosner |first2=Joshua |title=These are the Plunderers: How Private Equity Runs — and Wrecks — America |date=April 25, 2023 |publication-date=May 2023 |publisher=Simon & Schuster |location=New York, New York |isbn=978-1-9821-9130-6 |edition=First}}

Within six months after the collapse of Drexel, Apollo launched Apollo Investment Fund L.P., the first of its private-equity investment funds, formed to make investments in distressed companies. Apollo raised around $400 million of investor commitments based on Leon Black's reputation as a prominent lieutenant of Michael Milken and a key player in the buyout boom of the 1980s.

Lion Advisors (or Lion Capital) was founded in 1990 to provide investment services to Credit Lyonnais and foreign institutions, seeking to profit from depressed prices in the high-yield market.{{Cite news | url=https://www.nytimes.com/1995/01/26/business/bailing-out-france-s-biggest-bank.html | title=Bailing Out France's Biggest Bank | first=Richard W. | last=Stevenson | work=The New York Times | date=January 26, 1995 | url-access=limited}} In 1992, Lion entered into a more formal arrangement to manage the $3 billion high-yield portfolio for Credit Lyonnais which together with a consortium of other international investors provided the capital for Lion's investment activities. Lion Advisors was replaced by Ares Management.{{Citation needed|date=July 2022}}

At the time of Apollo's founding, little financing was available for new leveraged buyouts and Apollo turned, instead, to a strategy of distressed-to-control takeovers.{{Cite web | last=Altman | first=Edward I. | url=http://pages.stern.nyu.edu/~ealtman/report.pdf | title=The High Yield Bond Market: A Decade Of Assessment, Comparing 1990 With 2000 | publisher=NYU Stern School of Business | year=2000}}{{Cite news | last=HYLTON | first=RICHARD D. | url=https://www.nytimes.com/1990/01/11/business/corporate-bond-defaults-up-sharply-in-89.html | title=Corporate Bond Defaults Up Sharply in '89 | work=The New York Times | date=January 11, 1990 | url-access=limited}} Apollo purchased distressed securities, which could be converted into a controlling interest in the equity of the company through a bankruptcy reorganization or other restructuring. Apollo used distressed debt as an entry point, enabling the firm to invest in such firms as Vail Resorts,{{Cite news | url=https://www.deseret.com/2004/10/1/19853332/apollo-dissolves-vail-resorts-stake | title=Apollo dissolves Vail Resorts stake | agency=Associated Press | work=Deseret News | date=October 1, 2004}} Walter Industries,{{Cite news | url=https://www.nytimes.com/1994/04/09/business/company-news-walter-industries-bondholders-in-accord.html | title=Company News; Walter Industries' Bondholders in Accord | agency=Bloomberg News | work=The New York Times | date=April 9, 1994 | url-access=limited}}{{cite news | url=https://www.nytimes.com/1994/10/21/business/company-news-settlement-for-walter-industries-and-creditors.html | title=Settlement For Walter Industries And Creditors | agency=Bloomberg News | work=The New York Times | date=October 21, 1994| url-access=limited}} Culligan, and Samsonite.{{Cite news | url=https://www.nytimes.com/1993/05/22/business/company-news-e-ii-revamps-debt-plan-to-offset-offer-by-icahn.html | title=E-II Revamps Debt Plan To Offset Offer by Icahn | first=Stephanie | last=Strom | work=The New York Times | date=May 22, 1993| url-access=limited}}

Apollo acquired interests in companies that Drexel had helped finance by purchasing high-yield bonds from failed savings and loans and insurance companies. Apollo acquired several large portfolios of assets from the U.S. government's Resolution Trust Corporation.{{Cite news | url=https://www.nytimes.com/2009/02/11/business/economy/11react.html | title=Washington Hopes 'Vulture' Investors Will Buy Bad Assets | work=The New York Times | date=February 10, 2009 | url-access=limited}} One of Apollo's earliest and most successful deals involved the acquisition of Executive Life Insurance Company's bond portfolio. Using this vehicle, Apollo purchased the Executive Life portfolio, profiting when the value of high-yield bonds recovered, but also resulting in a variety of state regulatory issues for Apollo and Credit Lyonnais over the purchase.{{cite news | url=https://www.nytimes.com/1991/04/13/business/european-group-pressing-its-offer-for-executive-life.html | title=European Group Pressing Its Offer for Executive Life | first=Richard W. | last=Stevenson | work=The New York Times | date=April 13, 1991 | url-access=limited}}

File:AREA Property Partners logo.png

In 1993, Apollo Real Estate Advisers was founded in collaboration with William Mack to seek opportunities in the U.S. property markets.{{Cite web | url=https://magazine.wharton.upenn.edu/issues/anniversary-issue/he-made-real-estate-a-science-william-l-mack-w61-2/ | title=He Made Real Estate a Science: William L. Mack, W'61 | work=Wharton School of the University of Pennsylvania | date=July 1, 2007}}

In April 1993, Apollo Real Estate Investment Fund, L.P., the first in a family of real estate "opportunity funds", was closed with $500 million of investor commitments. In 2000, Apollo exited the partnership, which continued to operate as Apollo Real Estate Advisers until changing its name to AREA Property Partners effective January 15, 2009. That firm was then owned and controlled by its remaining principals, including William Mack, Lee Neibart, William Benjamin, John Jacobsson, Stuart Koenig, and Richard Mack.{{Cite news | url=https://www.perenews.com/jacobsson-departs-area/ | title=Jacobsson departs AREA | first=Evelyn | last=Lee | work=PERE News | date=February 11, 2012}}

In 1995, Apollo raised its third private-equity fund, Apollo Investment Fund III, with $1.5 billion of investor commitments from investors that included CalPERS and the General Motors pension fund.{{Cite news | url=https://www.bloomberg.com/news/articles/1996-07-28/leon-black-wall-streets-dr-dot-no-intl-edition | title=Leon Black: Wall Street's Dr. No | work=Bloomberg News | date=July 28, 1996 | url-access=subscription}} Fund III was only an average performer for private-equity funds of its vintage. Among the investments made in Fund III (invested through 1998) were: Alliance Imaging, Allied Waste Industries, Breuners Home Furnishings, Levitz Furniture,{{cite web | url=https://www.sec.gov/Archives/edgar/data/58997/000095017200002068/0000950172-00-002068-0003.txt | title=DISCLOSURE STATEMENT WITH RESPECT TO THIRD AMENDED JOINT PLAN OF REORGANIZATION OF LEVITZ FURNITURE INCORPORATED AND ITS SUBSIDIARIES UNDER CHAPTER 11 OF THE BANKRUPTCY CODE}} Communications Corporation of America, Dominick's, Ralphs (acquired Apollo's Food-4-Less), Move.com, NRT Incorporated,{{Cite news | url=https://www.nytimes.com/1997/08/13/business/hfs-apollo-in-real-estate-brokerage-venture.html | title=HFS-Apollo in Real Estate Brokerage Venture | agency=Reuters | work=The New York Times | date=August 13, 1997 | url-access=limited}} Pillowtex Corporation,{{Cite news | url=https://www.nytimes.com/1997/09/12/business/pillowtex-to-acquire-fieldcrest-for-400-million.html | title=Pillowtex to Acquire Fieldcrest for $400 Million | first=Jennifer | last=Steinhauer | work=The New York Times | date=September 12, 1997 | url-access=limited}} Telemundo,{{Cite news | url=https://www.nytimes.com/1994/07/21/business/telemundo-plan-backed.html | title=Telemundo Plan Backed | work=The New York Times | date=July 21, 1994 | url-access=limited}} and WMC Mortgage Corporation.{{cite news | url=https://labusinessjournal.com/news/1997/apr/21/weyerhaeuser/ | title=Weyerhaeuser | work=Los Angeles Business Journal | date=April 21, 1997}}

Also in 1995, Apollo's founding partner Craig Cogut left the firm to found Pegasus Capital Advisors. Since its inception, Pegasus has raised $1.8 billion in four private-equity funds focused on investments in middle-market companies in financial distress.

In 1997, Ares Management was founded by Antony Ressler and John H. Kissick, both partners at Apollo, as well as Bennett Rosenthal, who joined the group from the global leveraged finance group at Merrill Lynch, to manage a $1.2 billion market value collateralized debt obligation vehicle.{{Cite news |last=Vrand |first=Debora |date=April 22, 2004 |title=Ares Management to Take New Fund Public |url=https://www.latimes.com/archives/la-xpm-2004-apr-22-fi-ares22-story.html |url-access=limited |work=Los Angeles Times}} Ares I and II which were raised were structured as market value CLOs. Ares III-Ares X were structured as cash flow CLOs. In 2002, Ares completed a corporate spin-off from Apollo management. Although technically the founders of Ares had completed a spinout with the formation of the firm in 1997, they had maintained a close relationship with Apollo over its first five years and operated as the West Coast affiliate of Apollo. Shortly thereafter, Ares completed fundraising for Ares Corporate Opportunities Fund, a special-situations investment fund with $750 million of capital under management.{{cite web | url=https://www.forbes.com/profile/antony-ressler/ | title=Antony Ressler | work=Forbes}}

In 1998, during the dot-com bubble, Apollo raised Apollo Investment Fund IV with $3.6 billion of investor commitments. As of April 8, 2008, the fund had generated a 10% IRR net of fees. Among the investments made in Fund IV (invested through 2001) were: Allied Waste Industries,{{Cite news | url=https://www.nytimes.com/1999/03/09/business/markets-market-place-trash-hauler-buying-much-bigger-rival-type-deal-that-makes.html | title=A trash hauler is buying a much bigger rival, a type of deal that makes Wall Street a bit nervous | first1=David | last1=Barboza | first2=Laura M. | last2=Holson | work=The New York Times | date=March 9, 1999 | url-access=limited}} AMC Entertainment,{{cite news | url=https://www.nytimes.com/2002/01/27/business/investing-for-a-theater-chain-a-revival-may-be-near.html | title=For a Theater Chain, A Revival May Be Near | first=Joanne | last=Legomsky | work=The New York Times | date=January 27, 2002 | url-access=limited}} Berlitz International,{{Cite news | url=https://www.nytimes.com/1998/10/08/business/company-news-apollo-takes-20-stake-in-berlitz-for-100-million.html | title=Apollo Takes 20% Stake In Berlitz For $100 Million | agency=Bloomberg News | work=The New York Times | date=October 8, 1998 | url-access=limited}} Clark Retail Enterprises,{{Cite news | url=https://www.nytimes.com/1999/05/14/business/company-news-apollo-affiliate-is-acquiring-clark-s-store-operations.html | title=Apollo Affiliate Is Acquiring Clark's Store Operations | agency=Dow Jones & Company | work=The New York Times | date=May 14, 1999 | url-access=limited}} Corporate Express (Buhrmann), Encompass Services Corporation, National Financial Partners,{{Cite news | url=https://www.wsj.com/articles/SB923439166573208413 | title=Apollo Management Invests in Company That Is to Buy Firms That Counsel Rich | first=Deborah | last=Lohse | work=The Wall Street Journal | date=April 6, 1999 | url-access=subscription}} Pacer International,{{Cite news | url=https://www.nytimes.com/1999/03/18/business/company-news-neptune-orient-to-sell-north-american-train-network.html | title=Neptune Orient To Sell North American Train Network | agency=Dow Jones & Company | work=The New York Times | date=March 18, 1999 | url-access=limited}} Rent-A-Center, Resolution Performance Products, Resolution Specialty Materials, Sirius Satellite Radio,{{Cite news | url=https://www.reuters.com/article/us-siriusxm/corrected-for-sirius-xm-small-investors-want-bigger-windfall-idUSTRE63S01U20100429 | title=Corrected: For Sirius XM, small investors want bigger windfall | first=Franklin | last=Paul | work=Reuters | date=April 28, 2010}} SkyTerra Communications, United Rentals, and Wyndham Worldwide.{{Cite news | url=https://www.nytimes.com/1999/07/01/business/company-news-wyndham-receives-1-billion-from-investor-group.html | title=Wyndham Receives $1 Billion From Investor Group | agency=Dow Jones & Company | work=The New York Times | date=July 1, 1999 | url-access=limited}}

File:SolowBuilding.jpg at 9 West 57th Street in New York City, formerly occupied by Tyco]]

File:AMC Empire 25 NYC.jpg in 2001 and acquired the entire company in 2004.]]

In April 2001, Apollo raised Apollo Investment Fund V with $3.7 billion of investor commitments. As of April 8, 2008, the fund had generated a 54% IRR net of fees.{{Cite web | url=https://www.sec.gov/Archives/edgar/data/1411494/000119312508077312/ds1.htm | title=FORM S-1 | publisher=U.S. Securities and Exchange Commission | date=April 8, 2008}} Among the investments made in Fund V (invested through 2006) were Affinion Group, AMC Entertainment, Berry Plastics, Cablecom, Compass Minerals, General Nutrition Centers (GNC), Goodman Global, Hexion Specialty Chemicals (Borden), Intelsat, Linens 'n Things, Metals USA, Nalco Investment Holdings, Sourcecorp, Spectrasite Communications, and Unity Media.

Although the founders of Ares had completed a corporate spin-off with the formation of the firm in 1997, they had initially maintained a close relationship with Apollo and operated as the West Coast affiliate of Apollo.{{Cite news | last=Karmin | first=Craig | title=Ares Management to Buy AREA Property Partners | url=https://www.wsj.com/articles/BL-MBB-1262 | work=The Wall Street Journal | date=May 9, 2013 | url-access=subscription}}{{Citation needed|date=May 2020}}. In 2002, when Ares raised its first corporate opportunities fund, the firm announced that it would separate from its former parent company. The timing of this separation also coincided with Apollo's legal difficulties with the State of California over its purchase of Executive Life Insurance Company in 1991.{{Cite news | title=Private equity: the generational feud that rocked Apollo | url=https://www.ft.com/content/7f43b824-aa07-11e9-b6ee-3cdf3174eb89 | work=Financial Times | date=August 21, 2019 | url-access=subscription}} The same year, Attorney General of California Bill Lockyer accused Leon and an investor group led by French bank Credit Lyonnais of violating California law by having a foreign government-owned bank acquire the assets and bond portfolio of Executive Life Insurance.{{Cite news | url=https://www.wsj.com/articles/SB107170993659237800 | title=Executive Life Indictments Brought | first=Glenn R. | last=Simpson | work=The Wall Street Journal | date=December 18, 2003 | url-access=subscription}}

In April 2004, Apollo raised $930 million through an initial public offering for a listed business development company, Apollo Investment Corporation.{{Cite news | url=https://www.marketwatch.com/story/closed-end-fund-apollo-investment-corp-raises-930-mln | title=Closed-end fund raises $930 mln | first=Steve | last=Gelsi | work=MarketWatch | date=April 6, 2004 | url-access=limited}}{{cite news | last=Sorkin | first=Andrew Ross | authorlink=Andrew Ross Sorkin | url=https://www.nytimes.com/2007/04/05/business/05deal.html | title=Equity Firm Is Seen Ready to Sell a Stake to Investors | work=The New York Times | date=April 5, 2007 | url-access=limited}} In September 2004, investment funds managed by Apollo and Sterling Partners acquired Connections Academy. It was sold in 2011 for $400 million.{{Cite web | url=https://mergr.com/apollo-global-management-acquires-connections-academy | title=Apollo Global Management and Sterling Partners Acquires Connections Academy | publisher=Mergr}}

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In 2005, Apollo formed Hexion Specialty Chemicals through the merger of Borden, Inc., Resolution Performance Products LLC, and Resolution Specialty Materials, LLC, and the acquisition of Bakelite AG. Hexion announced in July 2007 that it was acquiring Huntsman Corporation, a major specialty-chemicals company, in a $6.5 billion leveraged buyout. Hexion announced in June 2008 it would refuse to close the deal, prompting a series of legal actions. The transaction was terminated in December after a settlement between Hexion and Huntsman, wherein they were required to pay Huntsman $1 billion to drop fraud charges.{{Cite news | url=https://www.nytimes.com/2007/07/13/business/13chemical.html | title=Manufacturer of Chemicals Agrees to Bid From Apollo | agency=Associated Press | work=The New York Times | date=July 13, 2007 | url-access=limited}}{{cite news | url=https://dealbook.nytimes.com/2008/12/14/huntsman-to-settle-with-apollos-hexion-over-failed-deal/ | title=Huntsman Settles With Apollo | work=The New York Times | date=December 14, 2008 | url-access=limited}}

File:Caesars Palace - Across Bellagio Lake.jpg, acquired as part of Apollo's LBO of Harrah's Entertainment]]

Between 2005 and 2007, the private equity market was booming.{{Cite news | last=Samuelson | first=Robert J. | url=https://www.washingtonpost.com/wp-dyn/content/article/2007/03/14/AR2007031402177.html | title=The Private Equity Boom | newspaper=The Washington Post | date=March 15, 2007}} Among Apollo's most notable investments during this period were Harrah's Entertainment, Norwegian Cruise Line, Claire's Stores, and Realogy.{{Cite news | url=https://www.nytimes.com/2008/12/07/business/07leon.html | title=In Private Equity, the Limits of Apollo's Power | first=Julie | last=Creswell | work=The New York Times | date=December 7, 2008 | url-access=limited}}

In 2006, Apollo acquired Rexnord Corporation for $1.825 billion,{{Cite news | url=https://www.wsj.com/articles/SB114856337795663002 | title=Apollo Management to Buy Rexnord in $1.83 Billion Deal | work=The Wall Street Journal | date=May 25, 2006| url-access=subscription}}{{Cite news | url=https://www.bizjournals.com/milwaukee/stories/2006/05/22/daily30.html | title=Rexnord to be sold in $1.8B deal | first=Rich | last=Rovito | work=American City Business Journals | date=May 25, 2006}} Berry Plastics for $2.25 billion,{{Cite news | url=https://www.nytimes.com/2006/06/29/business/29plastics.html | title=Berry Plastics to Be Sold Again | agency=Reuters | work=The New York Times | date=June 29, 2006| url-access=limited}} Momentive Performance Materials for approximately $3.8 billion,{{Cite news | url=https://www.bizjournals.com/albany/news/2019/05/17/south-korean-cos-acquire-momentive-in-waterford-ny.html | title=South Korean companies complete acquisition of Momentive | first=Robin K. | last=Cooper | work=American City Business Journals | date=May 17, 2019}} and TNT N.V. for $1.9 billion.{{Cite news | url=https://www.nytimes.com/2006/08/24/business/24fobriefs-002.html | title=Dutch Postal Deal | work=The New York Times | agency=Associated Press | date=August 24, 2006| url-access=limited}}

File:ApolloAltAssets logo.png

In August 2006, Apollo launched a $2 billion vehicle in Europe, AP Alternative Assets. It was a Guernsey-domiciled publicly traded, private-equity closed-end, limited partnership, managed by Apollo Alternative Assets, an affiliate of Apollo Management.{{cite news | last=Timmons | first=Heather | url=https://www.nytimes.com/2006/05/04/business/worldbusiness/04place.html | title=Opening Private Equity's Door, at Least a Crack, to Public Investors | work=The New York Times | date=May 4, 2006 | url-access=limited}} Apollo initially attempted to raise $2.5 billion for the public vehicle, but fell short when it offered the shares in June 2006, raising only $1.5 billion. Apollo raised an additional $500 million via private placements in the weeks following that sale. AAA was formed to invest alongside Apollo's main private-equity funds and hedge funds. AAA's investment portfolio was made up of a mix of private-equity and capital-markets investments. It was liquidated in 2020.{{Cite press release | url=https://www.globenewswire.com/en/news-release/2020/12/09/2141843/0/en/AP-Alternative-Assets-L-P-Announces-Suspension-of-Trading-of-Units-on-Euronext-Amsterdam.html | title=AP Alternative Assets, L.P. Announces Suspension of Trading of Units on Euronext Amsterdam | publisher=GlobeNewswire | date=December 8, 2020}}

In October 2006, Apollo announced a $990 million leveraged buyout of Jacuzzi Brands, a manufacturer of whirlpool baths.{{Cite news | url=https://www.nytimes.com/2006/10/12/business/12jacuzzi.html | title=Jacuzzi Brands Is Going Private | agency=Reuters | work=The New York Times | date=October 12, 2006 | url-access=limited}} In 2006, Apollo acquired International Paper's coated paper and supercalendered paper business for $1.4 billion, renaming the business Verso Paper. Verso is the second-largest producer of the North American magazine publishing and catalog/commercial print markets. In May 2008, Verso became a public company via an IPO.{{Cite news | url=https://dealbook.nytimes.com/2008/04/29/verso-paper-sets-ipo-range/ | title=Verso Paper Sets I.P.O. Range | work=The New York Times | date=April 29, 2008 | url-access=limited}}{{Cite news | url=https://www.reuters.com/article/versopaper/update-1-verso-paper-raises-168-mln-in-ipo-idUSN1438135320080515 | title=UPDATE 1-Verso Paper raises $168 mln in IPO | first=Sayantani | last=Ghosh | work=Reuters | date=May 14, 2008}}

In February 2007, Apollo acquired Oceania Cruises for $850 million and provided additional capital to fund the expansion of the company with the purchase of two new cruise ships.!{{cite news | url=https://www.travelweekly.com/Cruise-Travel/Private-equity-firm-to-acquire-Oceania-Cruises-for-850M | title=Private equity firm to acquire Oceania Cruises for $850M | first=Johanna | last=Jainchill | work=Northstar Travel Group | date=March 4, 2007}}

In February 2007, Apollo announced the acquisition of the Smart & Final chain of warehouse-style food and supply stores. In June 2007, Smart & Final completed the acquisition of the Henry's Marketplace chain of "farmers market" style food retailers from Wild Oats Markets as part of that company's acquisition by Whole Foods Market. In 2011, the Henry's chain was merged with Sprouts Farmers Market, which, like the Henry's markets, had been founded by Henry Boney.{{Cite news | url=https://www.bizjournals.com/losangeles/stories/2007/02/19/daily11.html | title=Smart & Final sells to Apollo Management affiliate in $813.9M deal | work=American City Business Journals | date=February 20, 2007}}{{Cite news | url=https://www.nytimes.com/2007/06/21/business/21foods.html | title=Whole Foods Deal | agency=Bloomberg News | work=The New York Times | date=June 21, 2007}}{{Cite news | last=Hamstra | first=Mark | title=Apollo Combines Sprouts, Henry's | work=Supermarket News | url=http://supermarketnews.com/news/sprout_henry_0216/ | date=February 16, 2011}}{{Cite news | last=Crabtree | first=Penni | title=Merger of Henry's, Sprouts is latest in Boney family's retail saga | work=The San Diego Union-Tribune |url=https://www.sandiegouniontribune.com/business/sdut-merger-henrys-sprouts-latest-twist-boney-family-sa-2011feb27-story.html | date=February 27, 2011}}

In March 2007, Apollo announced the $3.1 billion leveraged buyouts of costume jewelry retailer Claire's Stores. In 2008, Claire's experienced financial difficulty amid the slump in consumer spending.{{cite news | url=https://www.nytimes.com/2007/03/21/business/21buyout.html | title=Costume Jewelry Retailer Agrees to a Takeover | agency=Associated Press | work=The New York Times | date=March 21, 2007 | url-access=limited}}{{Cite news | url=https://www.wsj.com/articles/SB123171955382272193 | title=Wave of Bankruptcy Filings Expected From Retailers in Wake of Holidays | first1=Jeffrey | last1=McCracken | first2=Vanessa | last2=O'Connell | work=The Wall Street Journal | date=January 12, 2009 | url-access=subscription}}

In April 2007, Apollo acquired Noranda Aluminum, the US aluminum business of Xstrata for $1.15 billion. Noranda Aluminum includes a primary smelter and three rolling mills in Tennessee, North Carolina, and Arkansas along with other operations.{{cite news | url=https://archive.nytimes.com/query.nytimes.com/gst/fullpage-9F02E4D8123FF931A25757C0A9619C8B63.html | title=Mine Company Sells U.S. Unit | work=The New York Times | date=April 12, 2007}}

In April 2007, Apollo acquired Realogy, a franchisor that owns Coldwell Banker, Century 21, and Sotheby's International Realty, for $8.5 billion. As the United States housing market correction accelerated in 2008, Realogy faced financial pressures due to its debt load. In November 2008, Realogy launched an exchange offer for a portion of its debt to provide additional flexibility, prompting a lawsuit from Carl Icahn.{{Cite news | url=https://www.nytimes.com/2008/11/28/business/28norris.html | title=An End Run Around Realogy's Lenders | first=Floyd | last=Norris | authorlink=Floyd Norris | work=The New York Times | date=November 27, 2008}}{{Cite news | url=https://www.nytimes.com/2006/12/18/realestate/18real.html | title=Latest Deal in Real Estate for $9 Billion | first1=Andrew Ross | last1=Sorkin | authorlink1=Andrew Ross Sorkin | first2=Michael J. | last2=de la Merced | work=The New York Times | date=December 18, 2006}}{{Cite press release | title=Apollo Management, L.P. Completes Acquisition Of Realogy Corporation | url=https://rismedia.com/2007/04/11/apollo-management-lp-completes-acquisition-of-realogy-corporation/ | publisher=Anywhere Real Estate | archive-url=https://web.archive.org/web/20070927094711/http://www.realogy.com/media/pr/show_release.cfm?id=362 | archive-date=September 27, 2007}}{{cite news | url=https://www.nytimes.com/2008/12/03/business/03realogy.html | title=Icahn Sues Real Estate Company Over Debt | first=Zachery | last=Kouwe | work=The New York Times | date=December 2, 2008 | url-access=limited}} In 2013, Apollo sold out of this investment, making a profit of $1.3 billion.{{Cite news | url=https://www.wsj.com/articles/SB10001424127887323893004579055560985688966 | title=Realogy Investment Pays Off for Apollo | first=Mike | last=Spector | work=The Wall Street Journal | date=September 8, 2013 | url-access=subscription}}

In May 2007, Apollo acquired Countrywide plc, a provider of residential property-related services in the UK, formerly known as Hambro Countrywide (1988) and Countrywide Assured Group (1998) for $1.05 billion (not related to Countrywide Financial).{{Cite news | url=https://www.wsj.com/articles/SB117643190021368723 | title=Apollo Sweetens Countrywide PLC Bid | first1=Marietta | last1=Cauchi | first2=Margot | last2=Patrick | work=The Wall Street Journal | date=April 13, 2007 | url-access=subscription}}

In November 2007, the company sold 9% of itself to the Abu Dhabi Investment Authority.{{Cite news |title=Apollo chief says sold nine percent of firm to Abu Dhabi | work=Reuters | url=https://www.reuters.com/article/us-apollo-abudhabi-idUSN0756534920071107 |date=November 7, 2007}}{{cite news | last1=Sorkin | first1=Andrew Ross | authorlink1=Andrew Ross Sorkin | last2=De La Merced | first2=Michael J. | url=https://www.nytimes.com/2007/07/18/business/18place.html | title=Buyout Firm Said to Seek a Private Market Offering | work=The New York Times | date=July 18, 2007 | url-access=limited}}

In January 2008, Apollo and TPG Capital acquired Harrah's Entertainment for $27.4 billion, including the assumption of existing debt.{{Cite press release | url=https://www.bloomberg.com/press-releases/2008-01-28/harrah-s-entertainment-inc-announces-completion-of-merger | title=Harrah's Entertainment, Inc. Announces Completion Of Merger | publisher=PR Newswire | date=January 28, 2008}}{{cite news | last=Sorkin | first=Andrew Ross | authorlink=Andrew Ross Sorkin | url=https://www.nytimes.com/2006/12/18/business/18casino.html | title=Harrah's Is Said to Be in Talks to Accept $16.7 Billion Buyout | work=The New York Times | date=December 18, 2006 | url-access=limited}}

In January 2008, Apollo invested $1 billion in Norwegian Cruise Line to support a recapitalization of the company's balance sheet.{{Cite news | url=https://www.travelweekly.com/Cruise-Travel/Apollo-finalizes-its-1B-investment-deal-for-NCL | title=Apollo finalizes its $1B investment deal for NCL | first=Johanna | last=Jainchill | work=Northstar Travel Group | date=January 13, 2008}} In December 2018, Apollo cashed out of this investment.{{Cite news | url=https://www.travelweekly.com/Cruise-Travel/Apollo-and-Star-cash-out-of-NCLH | title=Apollo and Star cash out of Norwegian Cruise Line | first=Tom | last=Stieghorst | work=Northstar Travel Group | date=December 3, 2018}}

In February 2008, Apollo acquired Regent Seven Seas Cruises from Carlson Companies for $1 billion. Following the purchase, Apollo ordered a new ship for Regent.{{Cite press release | url=https://www.rssc.com/news/details?newsid=2722 | title=Apollo Management LP Acquires Regent Seven Seas Cruises | publisher=Regent Seven Seas Cruises | date=December 10, 2007}}

In April 2008, Apollo, TPG Capital, and The Blackstone Group acquired $12.5 billion of bank loans from Citigroup. The portfolio comprised primarily senior secured loans that had been made to finance leveraged-buyout transactions at the peak of the market. Citigroup had been unable to syndicate the loans before the onset of the credit crunch. The loans were reported to have been sold in the "mid-80 cents on the dollar" relative to face value. In late 2008, Apollo received margin calls associated with the financing of its purchase of certain loan portfolios as the values of the loans decreased.{{Cite news | url=https://www.nytimes.com/2008/04/09/business/09citi.html | title=Citi Is Said to Be Near Deal to Sell $12.5 Billion of Loans | first1=Michael J. | last1=de la Merced | first2=Eric | last2=Dash | work=The New York Times | date=April 9, 2008 | url-access=limited}}{{Cite news | url=https://www.wsj.com/articles/BL-DLB-3820 | title=Apollo, GSO Debt Funds Have Faced Margin Call Issues | work=The Wall Street Journal | date=November 12, 2008| url-access=subscription}}

In April 2008, Apollo filed a Form S-1 with the U.S. Securities and Exchange Commission in preparation for an IPO on the New York Stock Exchange.

In May 2008, Apollo invested in Vantium, a company that buys residential mortgage assets as part of a strategy to profit from the United States housing market correction.{{Cite news | url=https://www.americanbanker.com/news/apollo-invests-in-loan-buyer | title=Apollo Invests in Loan Buyer | work=American Banker | date=May 29, 2008 | url-access=limited}}

In July 2008, the company closed a $758 million value-add fund.{{Cite news | url=https://www.globest.com/sites/globest/2008/07/07/apollo-closes-758m-investment-fund/ | title=Apollo Closes $758M Investment Fund | first=Natalie | last=Dolce | work=ALM | date=July 7, 2008}}

Also in 2008, Apollo opened an office in India, its first office in Asia.{{Cite news | url=https://economictimes.indiatimes.com/forget-slowdown-pes-still-heading-to-india/articleshow/3342340.cms | title=Forget slowdown, PEs still heading to India | first=Mahima | last=Puri | work=The Economic Times | date=August 8, 2008}}

File:2008-11-22 Linens 'n Things store closing in Durham.jpg with the company's 2008 bankruptcy.]]

During the 2008 financial crisis, several of Apollo's investments came under pressure. Apollo's 2005 investment in the struggling US retailer Linens 'n Things suffered from a significant debt burden and softening consumer demand. In May 2008, Linens filed for bankruptcy protection, costing Apollo all of its $365 million investment in the company.{{cite news | url=https://www.nytimes.com/2008/05/03/business/03linen.html | title=Bankruptcy Protection for Retailer | first=Michael J. | last=de la Merced | work=The New York Times | date=May 3, 2008 | url-access=limited}}{{Cite news | url=https://www.nytimes.com/2008/04/14/business/14apollo.html | title=Apollo Struggles to Keep Debt From Sinking Linens 'n Things | first=Michael J. | last=de la Merced | work=The New York Times | date=April 14, 2008 | url-access=limited}} In 2009, the company was sued by a noteholder claiming mismanagement.{{Cite news | url=https://www.law360.com/articles/124328/linens-n-things-noteholder-sues-over-losses | title=Linens 'N Things Noteholder Sues Over Losses | first=Evan | last=Weinberger | work=Law360 | date=September 24, 2009}}

Apollo exercised its "PIK toggle" option at Claire's to shut off cash interest payments to its bondholders and instead issue more debt, to provide the company with additional financial flexibility.{{cite news | url=https://www.wsj.com/articles/SB121115406191402197 | title=PIK and Roll: Companies Seize On Perks of Loose Lending | first=Serena | last=Ng | work=The Wall Street Journal | date=May 19, 2008 | url-access=subscription}}{{Cite news | url=https://dealbook.nytimes.com/2008/06/03/fourth-apollo-company-flips-its-pik-toggle/ |title=Fourth Apollo Company Flips Its PIK Toggle | work=The New York Times | date=June 3, 2008}}

In December 2008, Apollo completed fundraising for its latest fund, Apollo Investment Fund VII, with roughly $14.7 billion of investor commitments.{{Cite news |title=Apollo First-Quarter Profit Rises 76% as Holdings Gain |url=https://www.bloomberg.com/news/2013-05-06/apollo-says-first-quarter-profit-rises-76-on-performance-fees.html| work=Bloomberg News | date=May 6, 2013 | url-access=subscription}} Apollo had been targeting $15 billion, but had been in fundraising for more than 16 months, with the bulk of the capital raised in 2007.{{Cite news |date=January 23, 2009 |title=Apollo Closes Buyout Fund Near $15 Billion Target |work=The Wall Street Journal |url=https://www.wsj.com/articles/BL-DLB-4712 |url-access= |access-date=March 14, 2023}}

In November 2009, Liberty Global acquired Unity Media GMBH; funds managed by Apollo owned a 31% interest.{{Cite news | url=https://www.reuters.com/article/us-libertyglobal/liberty-global-pays-3-billion-cash-for-unitymedia-idUSTRE5AC1HA20091113 | title=Liberty Global pays $3 billion cash for Unitymedia | first1=Nicola | last1=Leske | first2=Philipp | last2=Halstrick | work=Reuters | date=November 13, 2009}}

In December 2009, Apollo announced the acquisition of Cedar Fair Entertainment Company for $635 million and assumed debt valuing the company at $2.4 billion.{{Cite news| url=https://dealbook.nytimes.com/2009/12/17/apollo-to-buy-amusement-park-operator-cedar-fair/ | title=Apollo to Buy Amusement Park Operator Cedar Fair | work=The New York Times | date=December 17, 2009 | url-access=limited}}{{Cite news | url=https://www.wsj.com/articles/SB10001424052748704541004574600443362702668 | title=Apollo Reaches Theme-Park Deal | first1=Jeffrey | last1=McCracken | first2=Peter | last2=Lattman | agency=Associated Press | work=The Wall Street Journal | date=December 16, 2009 | url-access=subscription}} In April 2010, the deal was terminated due to poor shareholder response.{{Cite news |date=April 6, 2010 | title=Cedar Fair: Takeover not happening | agency=Associated Press | work=The San Diego Union-Tribune | url=https://www.sandiegouniontribune.com/sdut-cedar-fair-takeover-not-happening-2010apr06-story.html | url-access=limited | url-status=live |archive-url=https://archive.today/20130130031555/http://seattletimes.nwsource.com/html/entertainment/2011535721_apusapollocedarfair.html | archive-date=January 30, 2013}}{{cite press release | url=https://www.prnewswire.com/news-releases/cedar-fair-and-affiliates-of-apollo-global-management-mutually-terminate-merger-agreement-89989157.html | title=Cedar Fair and Affiliates of Apollo Global Management Mutually Terminate Merger Agreement | publisher=PR Newswire | date=April 6, 2010}}

In January 2011, Apollo acquired 51% of Alcan Engineered Products from Rio Tinto Group.{{Cite news | url=https://www.afr.com/markets/commodities/rio-tinto-divests-61pc-interest-in-alcan-engineered-prods-20110105-j4zav | title=RIO TINTO DIVESTS 61PC INTEREST IN ALCAN ENGINEERED PRODS | work=Australian Financial Review | date=January 6, 2011}}

On March 29, 2011, Apollo became a public company via an IPO.{{Cite news | url=https://www.reuters.com/article/us-apollo-ipo/apollos-upsized-ipo-raises-565-4-million-idUSTRE72T0F620110330 | title=Apollo's upsized IPO raises $565.4 million | first1=Alina | last1=Selyukh |first2=Megan | last2=Davies | work=Reuters | date=March 29, 2011}}{{Cite news | url=https://dealbook.nytimes.com/2011/03/29/apollo-prices-i-p-o-at-19-a-share/ | title=Apollo Prices I.P.O. at $19 a Share |

first=MICHAEL J. | last=DE LA MERCED | work=The New York Times | date=March 29, 2011 | url-access=limited}}{{Cite news | url=https://www.cnbc.com/2011/03/29/breaking-news-from-cnbcs-kate-kelly-apollo-pricing-ipo-at-19share.html | title=CNBC NEWS RELEASES BREAKING NEWS FROM CNBC'S KATE KELLY: APOLLO PRICING IPO AT $19/SHARE | first=Jennifer | last=Dauble | work=CNBC | date=March 29, 2011}}

In June 2011, Apollo acquired CKx.{{Cite press release | url=https://www.businesswire.com/news/home/20110622005607/en/Affiliate-of-Apollo-Global-Management-Completes-Acquisition-of-CKX-Inc. | title=Affiliate of Apollo Global Management Completes Acquisition of CKX, Inc. | publisher=PR Newswire | date=June 22, 2011}}

In March 2012, Apollo acquired the unprofitable Great Wolf Resorts for $703 million.{{Cite news | last=de la Merced | first=Michael J.| url=https://dealbook.nytimes.com/2012/04/08/private-equity-firms-duel-over-water-park-operator/ | title=Private Equity Firms Duel Over Water Park Operator | work=The New York Times | date=April 8, 2012 | url-access=limited}}{{Cite news | url=https://dealbook.nytimes.com/2012/03/13/apollo-to-acquire-water-park-operator-for-703-million/ | title=Apollo to Acquire Water Park Operator for $703 Million | last=Ahmed | first=Azam |work=The New York Times | date=March 13, 2012 | url-access=limited}}{{Cite press release | url=https://www.businesswire.com/news/home/20120504006126/en/Apollo-Global-Management-Announces-Successful-Completion-of-Its-Acquisition-of-Great-Wolf-Resorts | title=Apollo Global Management Announces Successful Completion of Its Acquisition of Great Wolf Resorts | publisher=Business Wire | date=May 4, 2012}}

In November 2012, Apollo acquired McGraw-Hill Education for $2.5 billion.{{Cite news |title=Hill Sells Education Unit to Apollo | url=https://www.wsj.com/articles/SB10001424127887323330604578143001164607408 | work=The Wall Street Journal | last=Trachtenberg | first=Jeffrey A. | date=November 26, 2012 | url-access=subscription}}{{Cite news |title=McGraw-Hill to Sell Education Unit to Apollo for $2.5 Billion |url=https://dealbook.nytimes.com/2012/11/26/mcgraw-hill-to-sell-education-unit-to-apollo-for-2-5-billion/ | first=MICHAEL J. | last=DE LA MERCED | work=The New York Times | date=November 26, 2012 | url-access=limited}}

In 2013, Apollo acquired Pitney Bowes Management Services (PBMS) for $400 million. From PBMS, Apollo formed Novitex Enterprise Solutions. Novitex is a document-outsourcing provider that manages business-critical services for over 500 companies across 10 industries.{{Cite press release | url=https://www.businesswire.com/news/home/20131002006370/en/Pitney-Bowes-Management-Services-Becomes-Novitex-Enterprise-Solutions | title=Pitney Bowes Management Services Becomes Novitex Enterprise Solutions | publisher=Business Wire | date=October 2, 2013}} In 2017, it was merged into Exela Technologies.{{Cite press release | url=https://www.globenewswire.com/news-release/2017/02/22/926140/0/en/Affiliates-of-Apollo-and-HGM-Agree-to-Combine-Novitex-and-SourceHOV-with-Quinpario-Acquisition-Corp-2-to-Form-Exela-Technologies-a-Public-Company-in-a-Transaction-Valued-at-2-8-Bil.html | title=Affiliates of Apollo and HGM Agree to Combine Novitex and SourceHOV with Quinpario Acquisition Corp. 2 to Form Exela Technologies, a Public Company in a Transaction Valued at $2.8 Billion | publisher=GlobeNewswire | date=February 21, 2017}}

On March 11, 2013, Apollo Global Management made the only bid for the snacks business of Hostess Brands, including Twinkies, for $410 million.{{Cite news | last=Kosman | first=Josh | title=Leon Black's Apollo Global new owner of Twinkies, other Hostess snack brands | url=https://nypost.com/2013/03/12/leon-blacks-apollo-global-new-owner-of-twinkies-other-hostess-snack-brands/ | work=New York Post | date=March 12, 2013}}

In December 2013, Apollo bought a portfolio of Irish home loans from Lloyds Bank for €307 million, less than half their face value. The shares were bought by an Apollo Global Management subsidiary, Tanager Limited.{{Cite news | title=Equity firm Apollo buys $419.4m (€307m) of Irish home loans from Lloyds | work=Irish Independent | url=https://www.independent.ie/business/equity-firm-apollo-buys-4194m-307m-of-irish-home-loans-from-lloyds-29815501.html | date=December 6, 2013}}

In January 2014, Apollo acquired Chuck E. Cheese's for about $1 billion.{{Cite news | title=Chuck E. Cheese sold in near-bn deal | url=https://www.ft.com/content/49ac6e82-7e4c-11e3-95dd-00144feabdc0 | work=Financial Times | url-access=subscription | date=January 15, 2014 }}{{Cite news | url=https://www.businessinsider.com/apollo-buys-chuck-e-cheese-for-950m-2014-1 | title=A Private Equity Firm Just Bought Chuck E. Cheese For $950 Million | first=Linette | last=Lopez | work=Business Insider | date=January 16, 2014}} Apollo owned the company until 2020, when it was purchased by Monarch Alternative Capital.

In October 2014, Apollo merged its Endemol television studio with 21st Century Fox's Shine Group. The merged company became Endemol Shine Group, with AGM and Fox each owning half of the studio.{{Cite news | last=Littleton | first=Cynthia | title=21st Century Fox and Apollo Seal Deal to Merge Shine, Endemol and Core | url=https://variety.com/2014/tv/news/21st-century-fox-and-apollo-seal-deal-to-merge-shine-endemol-and-core-1201326611/ | work=Variety | date=October 10, 2014}}

In May 2015, Centerbridge Partners acquired Great Wolf Resorts from Apollo for $1.35 billion.{{Cite news | last1=Stone | first1=Mike | last2=Oran | first2=Olivia | last3=Roumeliotis | first3=Greg | title=Exclusive: Centerbridge in $1.35 billion deal for Great Wolf Resorts: sources | work=Reuters | url=https://www.reuters.com/article/us-great-wolf-m-a-centerbridge-idUSKBN0MK1V220150324 | date=March 24, 2015 | archive-date=June 19, 2015 | archive-url=https://web.archive.org/web/20150619005043/http://www.reuters.com/article/2015/03/24/us-great-wolf-m-a-centerbridge-idUSKBN0MK1V220150324 | url-status=live}}{{Cite news | last=Schuyler | first=David | title=New owner pledges to grow Great Wolf Lodge chain | work=American City Business Journals | url=http://www.bizjournals.com/milwaukee/news/2015/05/12/new-owner-pledges-to-grow-great-wolf-lodge-chain.html | date=May 12, 2015}}

In June 2015, Apollo agreed to acquire OM Group for $1.03 billion.{{Cite web | last=Ankit Ajmera | title=OM Group to be taken private by Apollo Global in $1.03 billion deal | url=https://www.reuters.com/article/us-om-group-m-a-apolloglobal-idUSKBN0OH2DG20150601 | work=Reuters | date=June 1, 2015 | archive-date=June 1, 2015 |archive-url=https://web.archive.org/web/20150601143256/http://www.reuters.com/article/2015/06/01/us-om-group-m-a-apolloglobal-idUSKBN0OH2DG20150601 | url-status=live }}

Also in June 2015, Apollo won the bidding during an auction for Saint-Gobain's Verallia glass bottle-manufacturing unit for €2.95 billion.{{Cite news | last=Andrew Callus | title=Apollo wins auction for St-Gobain's Verallia | url=https://www.reuters.com/article/us-saintgobain-verallia-idUSKBN0ON11X20150607 | work=Reuters | date=June 7, 2015 | archive-date=June 8, 2015 | archive-url=https://web.archive.org/web/20150608023725/http://www.reuters.com/article/2015/06/07/us-saintgobain-verallia-idUSKBN0ON11X20150607 |url-status=live}}

In February 2016, Apollo agreed to acquire The ADT Corporation for $6.9 billion.{{Cite news | last=Picker | first=Leslie | title=ADT in $6.9 Billion Deal to Sell Itself to Apollo Buyout Firm | url=https://www.nytimes.com/2016/02/17/business/apollo-global-management-to-buy-adt-for-6-9-billion.html | work=The New York Times | date=February 16, 2016 | url-access=limited | issn=0362-4331}}

In April 2016, Apollo executive Stephanie Drescher donated $1000 to the presidential campaign of John Kasich, then Ohio governor. As governor, Kasich appointed a member to the Ohio state pension board. This donation violated an SEC pay-to-play pension rule. In 2019, the SEC chose not to enforce the rule.

In June 2016, funds managed by Apollo Global Management acquired Diamond Resorts International.{{Cite news |last1=Jarzemsky | first1=Matt | last2=Mattioli | first2=Dana |title=Apollo Global to Buy Diamond Resorts for $2.2 Billion | url=https://www.wsj.com/articles/apollo-global-nears-deal-to-buy-diamond-resorts-1467202412 | work=The Wall Street Journal | date=June 29, 2016 | url-access=subscription}} It was sold to Hilton Worldwide in August 2021.{{Cite press release | url=https://www.businesswire.com/news/home/20210802005413/en/Hilton-Grand-Vacations-Completes-Acquisition-of-Diamond-Resorts | title=Hilton Grand Vacations Completes Acquisition of Diamond Resorts | publisher=Business Wire | date=August 2, 2021}}{{Cite news | last1=Jarzemsky | first1=Matt | last2=Mattioli | first2=Dana | title=Apollo Global to Buy Diamond Resorts for $2.2 Billion | url=https://www.wsj.com/articles/apollo-global-nears-deal-to-buy-diamond-resorts-1467202412 | work=The Wall Street Journal | date=June 29, 2016 | url-access=subscription}}

In November 2016, investment funds managed by Apollo acquired Rackspace.{{Cite news |title=Rackspace to Go Private in $4.3 Billion Deal | url=https://www.wsj.com/articles/rackspace-to-go-private-in-4-3-billion-deal-1472218264 | first1=Austen | last1=Hufford | first2=Drew | last2=FitzGerald | work=The Wall Street Journal | date=August 26, 2016}}{{Cite press release | url=https://www.rackspace.com/newsroom/affiliates-of-funds-affiliated-with-apollo-global-management-private-company | title=Rackspace Completes Previously Announced Transaction with Affiliates of Funds Affiliated with Apollo Global Management to Become a Private Company | publisher=Rackspace | date=November 3, 2016}}

In 2016, investment funds managed by Apollo acquired Constellis for $1 billion. Constellis is a private military contractor that was created as a result of a merger between rival contractors Triple Canopy and Academi in 2014. Academi, founded by Erik Prince and formerly known as Blackwater USA, is best known for its role in the Nisour Square massacre, where Blackwater guards killed 17 Iraqi civilians and injured 20.{{cite news | url=https://www.reuters.com/article/us-usa-defense-m-a/u-s-defense-spending-bonanza-puts-niche-acquisitions-in-play-idUSKCN1FY03T | title=U.S. defense spending bonanza puts niche acquisitions in play | first=Mike | last=Stone | work=Reuters | date=February 13, 2018}}{{Cite news | last=Woolf | first=Nicky | title=Former Blackwater guards sentenced for massacre of unarmed Iraqi civilians | url=https://www.theguardian.com/us-news/2015/apr/13/former-blackwater-guards-sentencing-baghdad-massacre | work=The Guardian | date=April 14, 2015}}{{Cite news | title=Blackwater's Descendants Are Doing Just Fine | url=https://foreignpolicy.com/2014/07/01/blackwaters-descendants-are-doing-just-fine/ | first=Kate | last=Brannen | work=Foreign Policy | date=July 1, 2014}}{{Cite news | last1=Franklin | first1=Joshua | first2=Mike | last2=Stone | title=Apollo pauses plans to sell security firm Constellis: sources | url=https://www.reuters.com/article/us-constellis-m-a/apollo-pauses-plans-to-sell-security-firm-constellis-sources-idUSKBN1JA2W6 | work=Reuters | date=June 14, 2018}}

In February 2017, Apollo Education Group, the parent company of the University of Phoenix, was acquired by investment funds managed by Apollo and the Vistria Group, for $1.14 billion.{{Cite news | url=https://www.reuters.com/article/us-apollo-education-m-a-apollo-global/apollo-education-to-be-taken-private-in-1-1-billion-deal-idUSKCN0VH0Z1 | title=Apollo Education to be taken private in $1.1 billion deal | first=Ankit | last=Ajmera | work=Reuters | date=February 8, 2016}}{{Cite news | url=https://www.cooley.com/news/coverage/2017/2017-02-01-investor-consortium-completes-acquisition-of-apollo-education-group | title=Investor Consortium Completes Acquisition of Apollo Education Group | publisher=Cooley LLP | date=February 1, 2017}}{{Cite news | url=https://www.bloomberg.com/news/articles/2021-05-20/apollo-global-management-s-university-of-phoenix-acquisition-four-years-later | title=Apollo Doubles Its Money in $1 Billion Bet on Tarnished Colleges | first=Sabrina | last=Willmer | work=Bloomberg News | date=May 20, 2021 | url-access=limited}}{{Cite news | last=Wiles | first=Russ | title=Apollo Education starts new chapter as private firm | url=https://www.azcentral.com/story/money/business/economy/2017/02/06/university-phoenix-parent-apollo-education-starts-new-chapter-private-firm/97553824/ | work=The Arizona Republic | date=February 6, 2017}}

In June 2017, investment funds managed by Apollo acquired 80.1% of Philips Lumileds division for $1.5 billion.{{Cite press release | title=Philips completes sale of 80.1% interest in Lumileds to funds managed by affiliates of Apollo Global Management |url=https://www.philips.com/a-w/about/news/archive/standard/news/press/2017/20170630-philips-completes-sale-of-80-1-percent-interest-in-lumileds-to-funds-managed-by-affiliates-of-apollo-global-management.html | publisher=Philips | date=August 10, 2017}}{{Cite news |title=Philips to Sell Lumileds to Apollo at Discounted $2 Billion | url=https://www.bloomberg.com/news/articles/2016-12-12/philips-sells-lumileds-to-apollo-deal-values-unit-at-2-billion | work=Bloomberg News | date=December 11, 2016 | url-access=subscription}}

In October 2017, Apollo acquired West Corp for about $2 billion.{{Cite news | title=Apollo Global to buy West Corp for about $2 billion | work=Reuters | url=https://www.reuters.com/article/us-west-m-a-apollo-global-idUSKBN1852RN | date=May 10, 2017}}{{Cite press release | url=https://www.globenewswire.com/en/news-release/2017/10/10/1143808/25418/en/West-Corporation-and-Affiliates-of-Certain-Funds-Managed-by-Affiliates-of-Apollo-Global-Management-Announce-the-Closing-of-the-Previously-Announced-Transaction.html | title=West Corporation and Affiliates of Certain Funds Managed by Affiliates of Apollo Global Management Announce the Closing of the Previously Announced Transaction | publisher=Globe Newswire | date=October 10, 2017}}

In November 2017, Apollo lent $184 million to Kushner Companies to refinance the mortgage on a Chicago skyscraper.{{Cite news | last1=Drucker | first1=Jesse | last2=Kelly | first2=Kate | last3=Protess | first3=Ben | title=Kushner's Family Business Received Loans After White House Meetings | work=The New York Times | url=https://www.nytimes.com/2018/02/28/business/jared-kushner-apollo-citigroup-loans.html | date=February 28, 2018 | url-access=subscription }}{{Cite news | url=https://www.cnbc.com/2018/02/28/apollo-citigroup-loaned-kushner-companies-millions-new-york-times.html | title=Kushner's family business got hefty loans from Apollo, Citigroup last year, report says | first=Nyshka | last=Chandran | work=CNBC | date=March 1, 2018}}

In March 2018, Apollo acquired the Mexican-style restaurant chain Qdoba from Jack in the Box.{{Cite news | title=Apollo to buy Qdoba in $305M deal | url=https://www.nrn.com/mergers-acquisitions/apollo-buy-qdoba-305m-deal | first=Ron | last=Ruggless | work=Nation's Restaurant News | date=December 19, 2017}}{{Cite press release | url=https://www.businesswire.com/news/home/20180321005742/en/Jack-in-the-Box-Inc.-Completes-Sale-of-Qdoba-Restaurant-Corporation | title=Jack in the Box Inc. Completes Sale of Qdoba Restaurant Corporation | publisher=Business Wire | date=March 21, 2018}}

In June 2018, funds managed by Apollo and Värde Partners acquired a majority of OneMain Financial.{{Cite press release | url=https://investor.onemainfinancial.com/News/news-details/2018/Investor-Group-Led-by-Funds-Affiliated-with-Apollo-Global-Management-and-Vrde-Partners-Announce-the-Closing-of-the-Previously-Announced-Transaction-to-Acquire-a-Significant-Position-in-OneMain-Holdings/default.aspx | title=Investor Group Led by Funds Affiliated with Apollo Global Management and Värde Partners Announce the Closing of the Previously Announced Transaction to Acquire a Significant Position in OneMain Holdings | publisher=OneMain Financial | date=June 25, 2018}} Also in June 2018, Apollo acquired healthcare provider LifePoint Health for $5.6 billion. Following the acquisition, LifePoint merged with Apollo's RCCH HealthCare Partners.{{cite web |url=https://www.yahoo.com/news/buyout-firm-apollo-buy-lifepoint-health-5-6-113745715--sector.html |title=Apollo to buy LifePoint in latest private equity bet on healthcare |last=Mathias |first=Tamara |date=July 23, 2018 |website=Yahoo!News |publisher=Reuters |access-date=May 26, 2023}}{{Cite web|url=http://lifepointhealth.net/news/2018/11/16/lifepoint-health-and-rcch-healthcare-partners-announce-completion-of-merger|title=LifePoint Health and RCCH HealthCare Partners Announce Completion of Merger|website=lifepointhealth.net|access-date=May 26, 2023}}

In October 2018, funds managed by Apollo Global Management acquired a portfolio of $1 billion in energy investments from GE Capital's Energy Financial Services unit.{{Cite press release | url=https://www.ge.com/news/press-releases/funds-managed-apollo-global-management-acquire-approximately-1-billion-portfolio | title=Funds Managed by Apollo Global Management to Acquire Approximately $1 Billion Portfolio of Equity Investments from GE Capital's Energy Financial Services | publisher=General Electric | date=October 7, 2018}}{{Cite news | url=https://www.wsj.com/articles/ge-offloads-portfolio-of-energy-investments-to-apollo-global-1539002846 | title=GE Offloads Portfolio of Energy Investments to Apollo Global | first=Micah | last=Maidenberg | work=The Wall Street Journal | date=October 8, 2018 | url-access=subscription}}

In February 2019, AGM was in talks to buy Nexstar Media Group for over $1 billion.{{Cite news |title=Apollo is said to be nearing deal for group of Nexstar stations | url=https://www.crainsnewyork.com/entertainment/apollo-said-be-nearing-deal-group-nexstar-stations | work=Crain Communications | date=February 13, 2019}} However, on February 14, 2019, Cox Media Group announced that it was selling its 14 television stations to Apollo.{{Cite news | title=Apollo Global Management Acquires Cox's Television Stations Plus Radio & Newspapers In Dayton | url=https://radioinsight.com/headlines/174558/apollo-global-management-acquires-coxs-television-stations-plus-radio-newspapers-in-dayton/ | date=February 15, 2019 | website=RadioInsight}} In March 2019 filings with the Federal Communications Commission (FCC), Apollo disclosed that, through the newly formed Terrier Media, the Cox stations would be acquired for $3.1 billion (to be reduced by the value of a minority equity stake in Terrier that will be retained by Cox Enterprises); Terrier will also concurrently acquire Northwest Broadcasting, giving the company 25 television stations.{{Cite news | last=Jessell | first=Harry A. | title=Cox TV Valued At $3.1 Billion In Apollo Acquisition | work=TV News Check | url=https://tvnewscheck.com/article/top-news/231448/cox-tv-valued-3-1-billion-apollo-acquisition/ | date=March 6, 2019}} On June 26, 2019, Cox announced that its 60 radio stations, as well as its national advertising business CoxReps, and local OTT advertising agency Gamut, would also be acquired by the new company, which concurrently announced that it would retain the Cox Media Group name instead of Terrier Media.{{Cite news | last=Jacobson | first=Adam | title=It's Official: Cox Radio, Gamut, CoxReps Going To Apollo | work=Radio & Television Business Report | url=https://www.rbr.com/cox-media-group-radio-apollo/ | date=June 26, 2019}} On February 10, 2020, Cox Enterprises bought back the Ohio newspapers it sold to AGM. The FCC required Apollo to reduce the daily newspapers to three days or sell them.{{Cite news | title=Cox Enterprises buys back Ohio newspapers; 7-day publication continues | url=https://www.daytondailynews.com/news/local/cox-enterprises-buys-back-ohio-newspapers-day-publication-continues/q4q4JbHSw0fMzS8dZRDF2H/ |work=Dayton Daily News | date=February 10, 2020}}

In February 2019, Apollo acquired Aspen Insurance for $2.6 billion.{{Cite news | url=https://www.insurancejournal.com/news/international/2019/02/19/518100.htm | title=Apollo Global Management Completes Acquisition of Aspen Insurance |work=Insurance Journal | date=February 19, 2019}}

On April 16, 2019, Apollo announced that it would once again acquire Smart & Final for $1.1 billion.{{Cite news | last1=Brumpton | first1=Harry | last2=Roumeliotis | first2=Greg | title=Buyout firm Apollo to buy Smart & Final Stores for $1.1 billion | url=https://www.reuters.com/article/us-smart-final-us-m-a-apollo-glo-mgmt-ex/buyout-firm-apollo-to-buy-smart-final-stores-for-11-billion-idUSKCN1RS2AB | work=Reuters | date=April 16, 2019}}

On June 10, 2019, Apollo announced that it would acquire Shutterfly for $2.7 billion, as well as its competitor Snapfish in a separate transaction valued at around $300 million, with District Photo as a minority stakeholder.{{Cite news | last=Newburger | first=Emma | title=Shutterfly strikes take-private deal with Apollo Global, valuing company at $2.7 billion | url=https://www.cnbc.com/2019/06/10/shutterfly-strikes-take-private-deal-with-apollo-global-valuing-company-at-2point7-billion.html | work=CNBC | date=June 10, 2019}}

In August 2019, Apollo agreed to provide around $1.8 billion of debt financing to support New Media Investment Group's acquisition of Gannett.{{Cite news | last1=Scigliuzzo | first1=Davide | last2=Ahmed | first2=Nabila | title=Apollo Takes on Wall Street With Massive Newspaper Loan Deal | url=https://www.bloomberg.com/news/articles/2019-08-05/apollo-takes-on-wall-street-with-massive-newpaper-loan-deal | work=Bloomberg News | date=August 5, 2019 | url-access=subscription}} On October 23, 2019, AGM announced it signed agreements to take a 48.6% stake in Italian gambling group Gamenet SPA.{{Cite news |title=Apollo PE takes majority stake in Gamenet Italia | url=https://www.sbcnews.co.uk/europe/italy/agipro-news-italy/2019/10/23/apollo-takes-majority-stake-in-gamenet-italia/ | website=SBC News | date=October 23, 2019}}{{Cite news | title=Apollo Global Management buys 48.67% stake in Italy's Gamenet | work=Reuters | url=https://www.reuters.com/article/us-italy-gamenet-group-apollo-global-idUSKBN1X20UR | date=October 23, 2019}}

In November 2019, investment funds managed by Apollo acquired Florida-based Tech Data Corp. for $5.4 billion from Warren Buffett's Berkshire Hathaway.{{Cite news | last=Coffey | first=Lauren | title=Tech Data acquired in $5.4 billion deal | url=https://www.bizjournals.com/tampabay/news/2019/11/13/tech-data-acquired-in-5-4-billion-deal.html | work=American City Business Journals | date=November 13, 2019}}{{Cite news | title=Warren Buffett Failed to Spend His $128 Billion Cash Pile in Unusual Bid | url=https://observer.com/2019/12/warren-buffett-berkshire-hathaway-cash-acquisition-tech-data-fail-apollo/ | first= Sissi | last=Cao | work=The New York Observer | date=December 3, 2019}}

In December 2019, investment funds managed by Apollo acquired Northwest Broadcasting and Cox Media Group for $3 billion, acquiring Northwest's 12 television stations, Cox's 13 television stations, 54 radio stations, three newspapers, national television advertising business – CoxReps, and local OTT advertising business – Gamut. Smart Media.{{Cite press release | title=Cox Enterprises Announces Close of Cox Media Group Sale to Affiliates of Apollo Global Management | url=https://www.prnewswire.com/news-releases/cox-enterprises-announces-close-of-cox-media-group-sale-to-affiliates-of-apollo-global-management-300976507.html | publisher=PR Newswire | date=December 17, 2019}}{{Cite news | title=Cox Enterprises to Sell Majority Stake in TV Stations to Apollo | url=https://www.ajc.com/business/cox-enterprises-sell-majority-stake-stations-apollo/LEmzNJc4wsdHM2L2DVhplO/ | first=J. Scott | last=Trubey | work=The Atlanta Journal-Constitution | date=February 15, 2019}}{{Cite news | title=It's Official: Cox Radio, Gamut, CoxReps Going to Apollo | url=https://www.rbr.com/cox-media-group-radio-apollo/ | date=June 27, 2019 | publisher=Radio+Television Business Report}}{{Cite news | title=It's Official: Cox, Apollo Agree to Private Company | url=https://www.daytondailynews.com/news/cox-apollo-agree-form-private-company/5VZlkY40OLadrua8x4LL7N/ | first=Thomas | last=Gnau | work=Dayton Daily News | date=February 15, 2019 }}

In February 2020, investment funds managed by Apollo acquired Covis from Cerberus Capital Management.{{cite press release | url=https://www.globenewswire.com/news-release/2020/02/06/1981193/0/en/Funds-Managed-by-Affiliates-of-Apollo-Global-Management-to-Acquire-Covis-Pharma-From-Cerberus.html | title=Funds Managed by Affiliates of Apollo Global Management to Acquire Covis Pharma From Cerberus | publisher=Globe Newswire | date=February 6, 2020}}

In April 2020, AGM announced that it would invest $300 million in Cimpress, an Irish-domiciled printing group that owns Vistaprint.{{Cite news | title=Apollo to invest $300m in Irish-domiciled Cimpress | url=https://www.irishtimes.com/business/manufacturing/apollo-to-invest-300m-in-irish-domiciled-cimpress-1.4241838 | first=Charlie | last=Taylor | newspaper=The Irish Times | date=April 30, 2020}}

In May 2020, Apollo purchased $1.75 billion of preferred stock in Albertsons Companies.{{Cite news | last=Franklin | first=Joshua | title=Apollo Global invests $1.75 billion in U.S. supermarket operator Albertsons | url=https://www.reuters.com/article/us-albertsons-apollo-global-idUSKBN22W2ST | work=Reuters |date=May 20, 2020}}{{Cite press release | url=https://www.globenewswire.com/news-release/2020/05/20/2036420/0/en/Albertsons-Companies-announces-1-75-billion-preferred-equity-investment-led-by-Apollo-Global-Management.html | title=Albertsons Companies announces $1.75 billion preferred equity investment led by Apollo Global Management | publisher=Globe Newswire | date=May 20, 2020}}

In July 2020, Apollo launched a $12 billion platform to make big loans.{{Cite news | url=https://www.wsj.com/articles/apollo-launches-platform-to-make-big-loans-11594031400 | title=Apollo Launches Platform to Make Big Loans | first=Miriam | last=Gottfried | work=The Wall Street Journal | date=July 6, 2020 | url-access=subscription}} The same month, Apollo and The Walt Disney Company sold Endemol Shine Group to the French studio Banijay Group.{{Cite news | title=France's Banijay to acquire rival Endemol Shine Group, producer of 'Black Mirror' | url=https://www.latimes.com/entertainment-arts/business/story/2019-10-26/banijay-to-buy-black-mirror-producer-endemol-shine-group | agency=Bloomberg News | work=Los Angeles Times | date=October 26, 2019 | url-access=limited}}{{Cite news | last=Kanter | first=Jake | title=Sophie Turner Laing To Leave Endemol Shine Group As Banijay Group Completes $2.2BN Takeover | url=https://deadline.com/2020/07/sophie-turner-laing-to-leave-endemol-shine-as-banijay-completes-takeover-1202976815/ | work=Deadline Hollywood | date=July 3, 2020}}

In September 2020, Apollo entered into a $5.5 billion real-estate investment partnership with the Abu Dhabi National Oil Company (ADNOC).{{Cite news |title=UAE oil giant ADNOC signs $5.5 billion real estate deal with Apollo-led consortium | url=https://www.cnbc.com/2020/09/02/uae-oil-giant-adnoc-signs-5point5-billion-real-estate-deal-with-apollo-led-consortium.html | agency=Reuters | work=CNBC | date=September 2, 2020}}

In March 2021, Apollo Investment Corporation closed a $110 million mezzanine credit facility between LendingPoint and MidCap Financial Trust.{{cite press release | url=https://www.businesswire.com/news/home/20210309005305/en/LendingPoint-Closes-Up-to-110-Million-Mezzanine-Facility-with-Midcap-Financial-Trust-and-Apollo-Investment-Corporation | title=LendingPoint Closes Up to $110 Million Mezzanine Facility with Midcap Financial Trust and Apollo Investment Corporation | publisher=Business Wire | date=March 9, 2021}}

In March 2021, Leon Black resigned as CEO and chairman after revelations that he paid Jeffrey Epstein $158 million for personal tax-related advice between 2012 and 2017. He was replaced as CEO by Marc Rowan.{{Cite news | last1=Moon | first1=Louise | last2=Foy | first2=Simon | date=March 22, 2021 | title=Hedge fund boss quits over Epstein ties | work=The Daily Telegraph | url=https://www.telegraph.co.uk/business/2021/03/22/deliveroo-targets-88bn-valuation-live-updates/ |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/business/2021/03/22/deliveroo-targets-88bn-valuation-live-updates/ |archive-date=January 12, 2022 |url-access=subscription |url-status=live |issn=0307-1235}}{{cbignore}}{{Cite news | title=Why did Leon Black pay $158m to Jeffrey Epstein? | url=https://www.ft.com/content/23448802-3ee8-4c3c-bb46-fc02e304f3ed | work=Financial Times | date=January 26, 2021 | url-access=subscription}}{{Cite news | last=Oguh | first=Chibuike | title=Apollo's first-quarter earnings surge on strong fee revenue | work=Reuters | url=https://www.reuters.com/article/us-apollo-global-results-idUSKBN2CL0WO | date=May 4, 2021}}

In April 2021, Apollo launched Apollo Origination Partnership, a $1.8 billion direct-lending fund seeking unleveraged returns of 8-10% and 12-14% leveraged returns.{{Cite news | url=https://www.bloomberg.com/news/articles/2021-04-06/apollo-raises-1-8-billion-for-mega-loans-in-direct-lending-push | title=Apollo Raises $1.8 Billion in Push for Big Corporate Loans | first=Heather | last=Perlberg | work=Bloomberg News | date=April 6, 2021 | url-access=subscription}} The same month, funds managed by Apollo acquired The Michaels Companies, parent of Michaels.{{cite news | url=https://www.nytimes.com/2021/03/03/business/michaels-will-be-acquired-by-a-private-equity-firm-in-a-5-billion-deal.html | title=Michaels will be acquired by a private equity firm in a $5 billion deal | first=Lauren | last=Hirsch | work=The New York Times | date=March 3, 2021 | url-access=limited}}{{Cite press release | url=https://www.globenewswire.com/en/news-release/2021/04/15/2210771/0/en/Apollo-Announces-Completion-of-the-Tender-Offer-for-Shares-of-The-Michaels-Companies.html | title=Apollo Announces Completion of the Tender Offer for Shares of The Michaels Companies | publisher=Globe Newswire | date=April 15, 2021}}

In May 2021, Apollo's Gamenet acquired the Italian gaming businesses of International Game Technology for €950 million.{{Cite news | url=https://www.reuters.com/article/intl-game-tech-ma-gamenet/igt-sells-italian-gaming-businesses-to-gamenet-for-950-mln-euros-idUSL8N2IN2DO | title=IGT sells Italian gaming businesses to Gamenet for 950 mln euros | first=Francesca | last=Landini | work=Reuters | date=December 7, 2020}}{{Cite press release | url=https://www.prnewswire.com/news-releases/international-game-technology-plc-announces-agreement-to-sell-italian-b2c-gaming-business-for-950-million-in-cash-301186972.html | title=International Game Technology PLC Announces Agreement To Sell Italian B2C Gaming Business For €950 Million In Cash | publisher=PR Newswire | date=December 6, 2020}}

In July 2021, funds managed by Apollo acquired EmployBridge, a large industrial-staffing company that has been cited for dozens of safety violations and wage infractions.{{Cite press release | url=https://www.globenewswire.com/news-release/2021/07/19/2265134/0/en/Apollo-Funds-Complete-Acquisition-of-EmployBridge.html | title=Apollo Funds Complete Acquisition of EmployBridge | publisher=Globe Newswire | date=July 19, 2021}}{{Cite news |last=Corwin |first=Emily |date=August 23, 2022 |title=A Tax Credit Was Meant to Help Marginalized Workers Get Permanent Jobs. Instead It's Subsidizing Temp Work. |work=ProPublica |url=https://www.propublica.org/article/work-opportunity-tax-credit-temp-permanent-employment |access-date=August 25, 2022 |quote=In addition, the three companies approved for the most credits for employing people with felony records — Express, EmployBridge and TrueBlue — have each been cited for dozens of serious safety violations and wage infractions in the past two decades. }}

On July 22, 2021, it was announced that Legendary Entertainment was looking for a merger instead of a SPAC.{{cite web|url=https://variety.com/2021/film/news/dune-producer-legendary-entertainment-merger-sale-1235025601/|title='Dune' Producer Legendary Entertainment Exploring Sale, Possible Merger (EXCLUSIVE)|first1=Bret|last1=Lang|first2=Patrick|last2=Frater|work=Variety|date=July 22, 2021|access-date=July 22, 2021}} On January 31, 2022, a minority stake in Legendary was sold to Apollo Global Management, with Wanda Group still remaining the majority owner.{{cite web|url=https://variety.com/2022/film/news/dune-producer-legendary-sale-apollo-1235165458/|title='Dune' Producer Legendary Entertainment Sells $760 Million Stake to Apollo|first1=Bret|last1=Lang|work=Variety|date=January 31, 2022|access-date=February 13, 2022}}

In August 2021, Apollo announced the acquisition of the incumbent local exchange carrier operations in 20 states from Lumen Technologies for $7.5 billion, including $1.4 billion of assumed debt.{{Cite news | last2=Gottfried | first1=Drew | last1=FitzGerald | first2=Miriam | title=Lumen to sell much of its U.S. telecom assets to Apollo for $7.5 billion | url=https://www.marketwatch.com/story/lumen-to-sell-much-of-its-u-s-telecom-assets-to-apollo-for-7-5-billion-11628021622 | work=MarketWatch | date=August 3, 2021 | url-access=limited}}{{Cite press release | url=https://www.prnewswire.com/news-releases/lumen-to-sell-local-incumbent-carrier-operations-in-20-states-to-apollo-funds-for-7-5-billion-301347625.html | title=Lumen to sell local incumbent carrier operations in 20 states to Apollo Funds for $7.5 billion | publisher=PR Newswire | date=August 3, 2021}} The same month, Apollo launched a $500 million fund to invest in SPACs.{{Cite news | url=https://www.reuters.com/business/finance/apollo-seeks-500-million-fund-invest-spacs-sources-2021-08-24/ | title=Apollo seeks $500 million fund to invest in SPACs -sources | first1=Jessica | last1=DiNapoli | first2=Chibuike | last2=Oguh | work=Reuters | date=August 24, 2021}}

In September 2021, investment funds managed by Apollo acquired 90% of Yahoo!.{{cite news | last=Mihalcik | first=Carrie | url=https://www.cnet.com/news/yahoo-officially-has-a-new-owner-again/ | title=Yahoo has a new owner, again | work=CNET | date=September 1, 2021}}{{Cite press release | url=https://www.globenewswire.com/news-release/2021/09/01/2290243/0/en/Apollo-Funds-Complete-Acquisition-of-Yahoo.html | title=Apollo Funds Complete Acquisition of Yahoo | publisher=Globe Newswire | date=September 1, 2021}}

In January 2022, Apollo acquired Athene, a retirement services business.{{Cite press release | url=https://www.globenewswire.com/en/news-release/2022/01/03/2359954/0/en/Apollo-Completes-Merger-with-Athene-and-Finalizes-Key-Governance-Enhancements.html | title=Apollo Completes Merger with Athene and Finalizes Key Governance Enhancements | publisher=Globe Newswire | date=January 3, 2022}}{{Cite news |last2=Scism | first1=Miriam | last1=Gottfried | first2=Leslie | title=Apollo Reabsorbs Athene in All-Stock Deal That Values Firm at $11 Billion | work=The Wall Street Journal | url=https://www.wsj.com/articles/apollo-strikes-11-billion-all-stock-merger-with-athene-11615211824 | date=March 8, 2021 | url-access=subscription | issn=0099-9660}}{{Cite news |title=Apollo Global to buy annuities provider Athene in $11 billion deal | url=https://www.cnbc.com/2021/03/08/apollo-global-to-buy-athene-in-11-billion-deal.html | agency=Reuters | work=CNBC | date=March 8, 2021}}{{Cite news | url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/apollo-s-merger-with-athene-highlights-pe-s-rush-for-permanent-capital-63263065 | title=Apollo's merger with Athene highlights PE's rush for permanent capital | first=Madeleine | last=Farman | work=S&P Global | date=March 25, 2021}}{{Cite press release | url=https://www.globenewswire.com/news-release/2021/03/08/2188546/0/en/Apollo-and-Athene-to-Merge-in-All-Stock-Transaction.html | title=Apollo and Athene to Merge in All-Stock Transaction | publisher=Globe Newswire | date=March 8, 2021}} The same month, co-founder Josh Harris left the company to focus on other business ventures.{{cite web |last1=Sullivan |first1=Casey |last2=Cuccinello |first2=Hayley |title=Inside billionaire Josh Harris' final years at Apollo, where former employees said his personal investments caused tensions |url=https://www.businessinsider.com/apollo-global-josh-harris-family-office-tensions-2022-9 |website=Business Insider |access-date=March 29, 2023}}

In May 2022, Apollo acquired the US asset management business of Griffin Capital.{{Cite press release | url=https://www.globenewswire.com/en/news-release/2022/05/03/2434551/0/en/Apollo-Completes-Acquisition-of-Griffin-Capital.html | title=Apollo Completes Acquisition of Griffin Capital | publisher=Globe Newswire | date=May 3, 2022}}{{Cite news | url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/apollo-completes-acquisition-of-griffin-capital-s-us-asset-management-business-70126973 | title=Apollo completes acquisition of Griffin Capital's US asset management business | first=Rica | last=Dela Cruz | work=S&P Global | date=May 3, 2022}}

In July 2022, investment funds managed by Apollo acquired Tenneco for $7.1 billion.{{cite news |title=Lake Forest-based Tenneco being taken private in $7.1 billion deal |url=https://www.chicagotribune.com/business/ct-biz-tenneco-acquisition-ap-20220223-7vm2dzavqfdmllacofali6zatq-story.html |work=Chicago Tribune |date=February 23, 2022}}

In 2022, investment funds managed by Apollo acquired Chicago-based grocer Tony's Fresh Market,{{Cite news | title=Tony's Fresh Market acquired by New York-based Apollo Global Management | url=https://www.chicagotribune.com/business/ct-biz-apollo-funds-acquires-tonys-fresh-market-20220420-rbz66hjk35fh3cxh5ag3assyzm-story.html | last=Soglin |first=Talia | website=Chicago Tribune |date=April 20, 2022}} California-based grocer Cardenas,{{Cite news | last1=Wells | first1=Jeff |last2=Silverstein | first2=Sam | title=Apollo to acquire Cardenas Markets | url=https://www.grocerydive.com/news/apollo-to-acquire-cardenas-markets/625411/ | website=Industry Dive | date=June 13, 2022 }} and Miller Homes from Bridgepoint Group.{{Cite news | url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/miller-homes-to-target-sterling-heavy-bonds-for-apollo-takeover-68274454 | title=Miller Homes to target sterling-heavy bonds for Apollo takeover | first= Thomas | last=Beeton | work=S&P Global | date=January 4, 2022}}

In 2023, Apollo announced it would acquire American industrial company Arconic.{{cite news |url=https://www.post-gazette.com/business/pittsburgh-company-news/2023/05/04/arconic-alcoa-apollo-acquisition-howmet/stories/202305040098 |title=Pittsburgh-based Arconic agrees to be acquired by private equity firm |date=May 4, 2023 |newspaper=Pittsburgh Post-Gazette}}

In October 2023, Apollo acquired London-based restaurant group The Restaurant Group for £506 million ($623 million).{{cite news |title=Apollo to take Wagamama owner Restaurant Group private for $623 mln |url=https://www.reuters.com/markets/deals/apollo-owned-vehicle-buy-wagamama-owner-restaurant-group-6234-mln-2023-10-12/ |work=Chicago Tribune |date=October 12, 2023}}

In June 2024, Apollo announced the acquisition of a 49% equity interest in a joint venture entity related to Intel Ireland's Fab 34 for €10.1 billion ($11 billion).{{Cite web |title=Intel and Apollo Agree to Joint Venture Related to Intel's Fab 34 in Ireland |url=https://www.apollo.com/insights-news/pressreleases/2024/06/intel-and-apollo-agree-to-joint-venture-related-to-intel-s-fab-3 |access-date=June 5, 2024 |website=apollo.com |language=en}} Apollo Global and Kyndryl Holdings are in talks to jointly bid for DXC Technology, considering an offer of $22 to $25 per share, which boosted DXC's stock by 11%. DXC, dealing with declining revenues, is also exploring selling its insurance software business but may stay independent under its new CEO Raul Fernandez.{{Cite news|last1=Roumeliotis |first1=Greg |last2=Vinn |first2=Milana|date=June 11, 2024 |title=Exclusive: Apollo, Kyndryl in bid for DXC Technology |newspaper=Reuters |url=https://en.wikipedia.org/wiki/Apollo_Global_Management|access-date=June 13, 2024}}

In November 2024, Apollo partnered with Shinhan Life, the life insurance arm of Shinhan Financial Group,{{Cite web |date=2024-11-25 |title=[Photo News] Shinhan-Apollo partnership |url=https://m.koreaherald.com/article/10011581 |access-date=2025-01-05 |website=m.koreaherald.com |language=en}} and opened an office in Seoul as part of its Asia-Pacific expansion.{{Cite web |date=2024-11-18 |title=Apollo opens Seoul office to expand Asia-Pacific operation as multinational asset management firm |url=https://www.koreatimes.co.kr/www/biz/2025/02/126_386585.html |access-date=2025-02-11 |website=The Korea Times |language=en}}

In January 2025, Apollo acquired Barnes Group.

In February 2025, Apollo Global Management announced that a fund managed by Apollo affiliates acquired a majority stake in Bold Productions Services, a production-linked provider.{{Cite web |date=2025-02-12 |title=Apollo Funds Acquire Bold Production Services, a Leading Provider of Production-Linked Contracted Gas Treatment Solutions |url=https://ir.apollo.com/news-events/press-releases/detail/541/apollo-funds-acquire-bold-production-services-a-leading |access-date=2025-02-20 |website=Apollo Global Management, Inc. |language=en}} Also that month, Apollo agreed to acquire real-estate investment company Bridge Investment Group for $1.5 billion.{{Cite news |date=February 24, 2025 |title=Apollo to buy real-estate management firm Bridge Investment for $1.5 billion |url=https://www.reuters.com/markets/deals/apollo-buy-real-estate-firm-bridge-investment-group-15-billion-2025-02-24/ |work=Reuters}}

Since its inception in 1990, Apollo has raised ten flagship private equity funds, as follows:

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• {{Official website|https://www.apollo.com}}

{{Finance links

| name = Apollo Global Management, Inc.

| symbol = APO

| reuters = APO.N

| bloomberg = APO:US

| sec_cik = 1858681

| yahoo = APO

| google = APO:NYSE

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{{Apollo Global Management}}

{{Largest private equity firms}}

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