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 (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. Apollo raised approximately $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. Within six months after the collapse of Drexel, the Apollo launched Apollo Investment Fund L.P., the first of its private equity investment funds, formed to make investments in distressed companies. Other founding partners included Marc Rowan, Josh Harris, and Michael Gross, who both worked under Black in the mergers and acquisitions department, and Antony Ressler, who worked as a senior vice president in Drexel's high yield department with responsibility for the new issue/syndicate desk. Among the most notable founders are John Hannan, Drexel's former co-director of international finance Craig Cogut, a lawyer who worked with Drexel's high-yield division in Los Angeles and Arthur Bilger, the former head of the corporate finance department. Īpollo, originally referred to as Apollo Advisors, was founded in 1990, after the collapse of Drexel Burnham Lambert in February 1990, by Leon Black, the former head of Drexel's mergers and acquisitions department, along with other Drexel alumni. AIC provides mezzanine debt, senior secured loans, and equity investments to middle-market companies, including public companies, although it historically has not invested in companies controlled by Apollo's private equity funds. In addition to its private funds, Apollo operates Apollo Investment Corporation (AIC), a US-domiciled publicly traded private equity closed-end fund and business development company. Apollo is headquartered in the Solow Building at 9 West 57th Street in New York City, with offices across North America, Europe and Asia including in Purchase, New York, Los Angeles, San Diego, El Segundo, Woodland Hills, Houston, Bethesda, London, Frankfurt, Luxembourg, Madrid, Singapore, Hong Kong, New Delhi, Powai, Shanghai, Tokyo, and Mumbai. Īmong the most notable companies in which funds managed by the company have invested include ADT Inc., CareerBuilder, Cox Media Group, Intrado, Rackspace, Redbox, Shutterfly, Sirius Satellite Radio, Smart & Final, University of Phoenix, and Yahoo!.Īpollo was founded in 1990 by Leon Black, Josh Harris, and Marc Rowan. Since inception in 1990, private equity funds managed by Apollo have produced a 24% internal rate of return (IRR) to investors, net of fees. The company invests money on behalf of pension funds, financial endowments and sovereign wealth funds, as well as other institutional and individual investors. As of December 31, 2020, the company had $455.5 billion of assets under management, including $328.6 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans and collateralized loan obligations, $80.7 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. It invests in credit, private equity, and real assets.
is a global alternative investment management firm. Apollo invested in AMC Theatres in 2001 and acquired the entire company in 2004Īpollo Global Management, Inc.
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