Apollo, the investment giant with 800 billion, sets out to take over EasyJet
Private equity, infrastructure, transport, healthcare and insurance: who is this New York financial giant and where does it invest?
News from London is turning the spotlight on Apollo Global Management, one of the world’s leading alternative investors. Founded in the United States in 1990, the group is now one of the world’s leading firms specialising in private equity, credit, infrastructure, property and insurance solutions. In recent years, Apollo has significantly expanded its scope, transforming itself from a private equity fund into a global asset management platform with investments across numerous strategic sectors.
The group’s name has returned to the international spotlight after it tabled an offer of 715 pence per share to acquire the British airline EasyJet, surpassing Castlelake’s improved bid, which last weekend had raised its offer to 690 pence per share. EasyJet’s board of directors has indicated that it considers Apollo’s proposal to be superior to that of its American rival, thereby sparking a full-blown bidding war for control of the low-cost airline.
Apollo is a giant with over 800 billion dollars in investments, a scale that firmly places it amongst the world’s largest alternative investment managers alongside Blackstone, KKR, Brookfield and Ares Management. Its growth has accelerated significantly following the merger with Athene, a company specialising in life insurance and annuities, which has provided Apollo with substantial permanent capital to allocate to investments.
The group’s activities are mainly divided into three broad areas: private equity, private credit and corporate lending, and finally investments in infrastructure, property and energy. In recent years, Apollo has gradually reduced the proportion of its traditional private equity business in favour of credit, which is now regarded as the main driver of the group’s growth.
Apollo Global Management has its headquarters in New York, in the heart of Manhattan. The group also has major operational offices in North America, Europe, the Middle East and the Asia-Pacific region. Its key international offices include London, Luxembourg, Frankfurt, Madrid, Mumbai, Singapore, Hong Kong, Tokyo and Sydney, reflecting its now truly global presence. Among its most recent transactions is the agreement announced with Bayer concerning its female contraception division. Apollo has acquired a stake in the company managing the portfolio of these products through a transaction worth approximately €3 billion, confirming the fund’s growing interest in the healthcare sector.
