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Though 2023 won't be a year defined by "new toys," as Rowan said previously, Apollo has done a handful of big deals while moving others over the finish line. On Mar 8, 2021, Apollo ( NYSE: APO) and Athene ( ATH) announced their merger. For a full comparison of Standard and Premium Digital, click here. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. Existing Apollo shareholders will own about 76% of the combined company, and Athene investors will own the rest. The lawsuitfiled in New Yorkon Friday is the latest salvo in a long-running dispute between the private equity firm led by Leon Black and Imran Siddiqui, a former Apollo executive. Rowan, who co-founded Apollo 31 years ago, has been tasked with running the New York-based firm after board Chairman Leon Black said in January he would step down as chief executive by July, following an independent review of his ties to the late financier and convicted sex offender Jeffrey Epstein. It is rare for private equity firms to accuse former executives publicly of stealing trade secrets. Siddiquis lawyer Lisa Solbakken said the emails reflect no wrongful conduct, and the new allegations should be rejected. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Black, 67, is worth $6.2 billion, according to Forbes magazine. This press release does not constitute an offer of any Apollo fund. (212) 822-0491. organisation However, it hasn't been immune to concerns in the broader economy. The allegations were made in response to a July 12 lawsuit in which the former executive, Imran Siddiqui, said Apollo and Black tried illegally to undermine his new venture, Caldera Holdings Ltd, and prevent it from competing with their "golden goose," the insurer Athene Holding Ltd ATH.N. 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Marc Rowan As of September 30, 2021, Apollo had approximately $481 billion of assets under management. In a filing with a New York state court in Manhattan, Apollo and Black said emails uncovered from early 2017 show that Siddiqui was surreptitiously working with a more junior Apollo colleague and two former Athene executives, and using confidential information to form a competing company. Follow her on Twitter at @agarfinks and on LinkedIn. Apollo Sues Two More Executives in Dispute Over Insurance Rival - WSJ and Founded in 2009, Athene also serves as Apollo's partner insurance company and had total assets worth $202.8 billion at the end of 2020, with operations in the United States, Bermuda, and Canada. NEW YORK, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Apollo and Athene today announced the successful completion of their merger under Apollo Global Management, Inc. (NYSE: APO), a high-growth alternative asset manager with asset management and retirement services capabilities. Apollo, Leon Black say ex-partner's theft shows 'betrayal' Read the latest financial and business news from Yahoo Finance. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. We support credit card, debit card and PayPal payments. We support credit card, debit card and PayPal payments. A Division of NBCUniversal. And that trend has continued in 2023 so far. 2023 CNBC LLC. Apollo's Athene Quietly Settled Harassment Case Against Its CEO Log in to keep reading or access research tools. Athene Investor Contact Noah Gunn +1 441 279 8534 +1 646 768 7309 ngunn@athene.com Athene Media Contact Karen Lynn +1 441 279 8460 +1 515 342 3910 klynn@athene.com Apollo Investor . The deal would create a $29 billion conglomerate and put . For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Yet Athene's shares underperformed the insurance sector following its stock market debut in 2016, prompting a bid from Apollo for its assets. The company does business in private equity and private credit. You may change or cancel your subscription or trial at any time online. To learn more, please visit www.apollo.com. Apollo-Athene: the new Berkshire Hathaway? | Financial Times We cant find the page you're looking for. Apollo has vowed to defend itself in the case, saying the allegations do not have a legal or factual basis. In addition to the aforementioned Athene, an $11 billion all-stock acquisition it closed in 2022, Apollo currently owns security firm ADT, which it bought in 2016, and Yahoo Inc. (Yahoo Finance's parent company), which it acquired in 2021 for $5 billion. You may change or cancel your subscription or trial at any time online. Contacts. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. The case is Caldera Holdings Ltd et al v Apollo Global Management LLC et al, New York State Supreme Court, New York County, No.