Today, General Electric announced the sale of GE Capital’s PK AirFinance to Apollo Global Management and Athene Holding. All three stocks rose on the news.
The real estate segment of Blackstone Group (BX) garnered total revenues of $641 million in the first quarter, a decline of 17% on a YoY (year-over-year) basis.
The Carlyle Group’s (CG) real assets segment ended the first quarter with total AUM (assets under management) of $44 billion, of which legacy energy AUM comprised $5 billion, real estate comprised $19 billion, and natural resources comprised $20.1 billion.
In Q1 2018, The Carlyle Group’s (CG) global credit AUM (assets under management) rose 15% YoY (year-over-year) to $33.8 billion due to foreign exchange translation and fundraising offset by realizations.
Of the 15 analysts covering Apollo Global Management (APO) in June, five have recommended “strong buys,” and seven have recommended “buys” on its stock.
Apollo Global Management’s (APO) PE ratio is 12.39x on a next-12-month basis, which suggests that its valuation is trading at a premium to the peer average.
A rise in the interest rate by the Fed could reduce the value of the current credit holdings of alternative asset managers, affecting their businesses and credit divisions.
In the second quarter, The Blackstone Group (BX) is expected to witness a decline in deployments compared to the first quarter—primarily because of higher valuations that reduce deployment opportunities.
The performance of the Blackstone Group’s (BX) credit division is affected mainly by outflows. In the first quarter, the debt markets witnessed outflows primarily because of expectations for higher interest rates.
The carrying value of the opportunistic funds for Blackstone Group’s (BX) real estate division rose 3.5% in the first quarter, mainly because of private investment values.
The private equity division of Blackstone Group (BX) ended the first quarter with total assets under management or AUM of $111.4 billion, which implies a rise of 12% on a year-over-year or YoY basis.
Apollo Global Management (APO) posted its results for 1Q18 (ending in March) today and reported earnings per share or EPS of -$0.30, which missed analysts’ expectations by $0.19.
In 4Q17, Berkshire Hathaway’s (BRK.B) Services segment benefited from consumer spending, which drove revenue growth of 4% on a YoY (year-over-year) basis.
Significant buyout On March 27, 2018, AkzoNobel announced it would be selling its specialty chemicals business to GIC and The Carlyle Group (CG) for $12.5 billion. The private equity companies are sitting on a substantial amount of cash, raising concerns among market participants and fund investors. From the past few years, these companies have seen substantial fundraising, creating a need for such huge investments. Carlyle […]
The Carlyle Group’s (CG) global credit segment generated fund-level fee revenue of $192.2 million in 2017, representing a YoY (year-over-year) decline.
The real asset segment of Apollo Global Management (APO) saw a substantial decline in economic income from $10.3 million in 4Q16 to $1.8 million in 4Q17.
Apollo Global Management’s (APO) credit segment witnessed a substantial rise in the total revenues from $214.9 million in 4Q16 to $296.9 million in 4Q17.
Consumer spending and wealth generation In recent quarters, Berkshire Hathaway’s (BRK.B) service and retail division’s performance has been flat to positive, helped by NetJets and its media, retail, and electronics holdings and partially offset by weaker housing finances. As consumer confidence has been high and the job market has been upbeat, consumer spending is expected to […]
Apollo Global Management (APO) posted total revenues of $1.7 billion in 9M17 compared to $1.2 billion in 9M16. This increase reflected a substantial rise in its carried interest income.
As it enhances its reach in new areas, Blackstone’s management plans to double its managed assets and targets by ~$800 billion over the next five years.
In the first three quarters of 2017, Carlyle Group saw a rise in its expenses to $2 billion, compared with $1.7 billion during the same period of 2016.
Carlyle Group (CG) saw a YoY (year-over-year) rise in total revenues in 3Q17, driven mostly by favorable momentum in the company’s total performance fees.
Carlyle Group’s Real Assets division saw a substantial YoY (year-over-year) rise in net performance fees from $28 million in 3Q16 to $50 million in 3Q17.
Apollo Global witnessed the strong growth of 7.3% in its private equity funds in 3Q17 due to positive momentum among companies in its private portfolio.
Consistent ratings Of the 15 analysts tracking Apollo Global Management (APO) in November 2017, four have recommended “hold,” seven have recommended “buy,” and four have recommended “strong buy.” These ratings have been the same over the last few months. Ratings for peers Both analysts tracking Fortress Investment Group (FIG) in November 2017 have recommended “hold,” as was the case last […]
Lower valuation Apollo Global Management (APO) has a one-year forward PE (price-to-earnings) ratio of 9.8x, whereas its peers’ average ratio is 9.9x. Peers Fortress Investment Group (FIG), Ares Management (ARES), and Oaktree Capital (OAK) have ratios of 8.5x, 10.3x, and 11.0x, respectively. Apollo’s discounted valuation may be due to its carried interest income falling between 3Q16 […]
Inflow and outflow Apollo Global Management’s (APO) AUM (assets under management) saw a significant inflow of $7.9 billion in 3Q17, reaching $241.5 billion. Its credit division had the highest inflow among divisions, of $6.6 billion. Apollo’s private equity and real asset divisions saw an inflow of $0.6 billion and $0.7 billion, respectively, during 3Q17. The company had an outflow of $601 […]
Total expenses rise year-over-year Apollo Global Management’s (APO) total expenses rose 26.7% to $357.5 million in 3Q17 from $282.3 million in 3Q16, mainly due to higher placement fees and total compensation and benefit expenses. Apollo’s total compensation and benefit expenses rose 29.5% to $270.6 million in 3Q17 from 208.9 million in 3Q17, mainly because of profit sharing expenses […]
Fall in total revenue Apollo Global Management’s (APO) real asset division saw its total revenue fall from $23.1 million in 3Q16 to $21.7 million in 3Q17, mainly due to its carried interest income falling from $6.5 million to $1.8 million. The division’s advisory and transaction fees rose from $1 million in 3Q16 to $1.4 million in […]
Total revenue falls Apollo Global Management’s (APO) credit division saw its total revenue fall from $266 million in 3Q16 to $228.4 million in 3Q17, mainly due to lower carried interest income, which fell from $112 million to $36.3 million. The credit division posted assets under management of $158 billion in 3Q17. Over the last 12 months, Apollo has returned […]
Total revenue rises Apollo Global Management’s (APO) private equity division’s total revenue rose to $395 million in 3Q17 from $203 million in 3Q16, mainly due to higher carried interest income. Apollo’s private equity division reported carried interest income of $308.4 million in 3Q17, compared with $84.8 million in 3Q16. The division’s funds appreciated 7.3% during 3Q17, mainly […]
Year-over-year rise Apollo Global Management (APO) earns revenue through advisory, transaction, and management fees, and carried interest income. In 3Q17, the company’s total revenue rose substantially by 31.9% YoY (year-over-year) to $664.2 million from $503.7 million in 3Q16. The revenue rise was mainly due to a significant rise in carried interest income and management fees. […]
Apollo Global Management (APO) reported its 3Q17 earnings on November 1, 2017. The company posted EPS (earnings per share) of $1.07, higher than Wall Street analysts’ prediction of $0.61.
