An Illinois pension fund has dropped a lawsuit accusing Apollo of charging "extravagantly expensive" fees to Athene, the life run-off acquirer that it founded. On Mar 8, 2021, Apollo ( NYSE: APO) and Athene ( ATH) announced their merger. The relationship has delivered hundreds of millions of dollars in asset management fees to Apollo, an amount the lawsuit called "exorbitant", citing an FT investigation that reported Apollo's. If you reached this page via our site or search, please let us know by emailing, Epsteins Private Calendar Reveals Prominent Names, First Republic Bank Is Seized and Bulk Sold to JPMorgan, Randi Weingartens Incredible Covid Memory Loss, Disney vs. DeSantis: What to Know About Their Power Struggle, JPMorgan Buys First Republic Bank in Second-Largest U.S. Bank Failure, The Booming Texas Border Town at the Center of a Global Trade Shift. We are excited to continue executing on this plan together, said (515) 342 6473 Apollo Global Management has been accused of "looting" its affiliated life insurance company, Athene Holding, in an investor lawsuit targeting "exorbitant" payments that account for one-third. Got a confidential news tip? The Apollo-Athene Merger Will Unlock Value - SeekingAlpha These statements include, but are not limited to, discussions related to Apollos expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis and expectations regarding benefits anticipated to be derived from the merger (the Merger) with Athene Holding Ltd. (Athene). You may change or cancel your subscription or trial at any time online. As a combined public company, we have created a superior model to deliver highly stable and diversified earnings, to accelerate our growth, and to originate the highest quality assets for our clients. Reporting by Jonathan Stempel in New York; Editing by Dan Grebler. Reuters. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. Apollo buying Athene in $11B deal; COVID-19 class action allowed to Apollo sues two more executives in dispute over insurance rival Apollo, Leon Black say ex-partner's theft shows 'betrayal' Data is a real-time snapshot *Data is delayed at least 15 minutes.
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