Compare Standard and Premium Digital here. Bermuda court issues temporary injunction to block Apollo, Athene lawsuit (212) 822-0491 Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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. Apollo Global Management Inc. is suing two former employees of its affiliate Athene Holding Ltd. over their role in helping set up a rival insurance business. Leon Black is proving once again hes not someone to cross. 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. Apollo Global Management, Inc. 2023 All Rights Reserved. Read court documents, court records online and search Trellis.law comprehensive legal database for any state court documents. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Athene Holding Ltd. and Apollo Global Management LLC have obtained a temporary injunction from a Bermuda court blocking a pension fund's lawsuit claiming that Apollo is "looting" the insurance company from going forward, the Financial Times reported. To learn more, please visit www.apollo.com. Athene and Apollo Announce Closing of Transaction to Strengthen Premium access for businesses and educational institutions. NEW YORK (Reuters) - Apollo Global Management LLC. For cost savings, you can change your plan at any time online in the Settings & Account section. Questions linger as Apollo plans an IPO - The Salt Lake Tribune For Investors: All quotes delayed a minimum of 15 minutes. Apollo Law Yet Athene's shares underperformed the insurance sector following its stock market debut in 2016, prompting a bid from Apollo for its assets. Siddiqui worked at Goldman Sachs Group Inc GS.N and Oak Hill Capital Partners before joining Apollo. The lawsuit is ongoing. The lawsuit filed in New York on . Fully Aligned and Capital Efficient Model Positions Apollo for Differentiated Growth and Returns, Enhanced Liquidity and Trading Profile Expected to Attract Broader, More Diversified Investor Base. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. Under the terms of the transaction, each outstanding Class A common share of Athene . Mar 8, 2021, 1:57 PM PST. Photographer: Anthony Kwan/Bloomberg. Compare Standard and Premium Digital here. Athene and Apollo have seen tremendous mutual benefit from our longstanding strategic relationship, and now with full alignment our value will be significantly stronger than the sum of our parts, said "If we make decisions as if we're going to own it forever, we usually will make the right decision. The company does business in private equity and private credit. Black, Apollo's chairman and chief executive officer, told investors at a 2012 conference that Athene is among Apollo's "hidden assets." . Check if your The companies announced Monday that they have agreed to merge by swapping stock . "We will have total alignment to optimize our strategy and allocate capital efficiently," said Marc Rowan, Apollo's incoming chief executive, who helped set up Athene in 2009. Under the terms of the deal, each outstanding Class A common share of Athene will be exchanged for a fixed ratio of 1.149 shares of Apollo common stock. NEW YORK and HAMILTON, Bermuda, March 08, 2021 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Athene (NYSE: ATH) have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of approximately $11 billion for Athene. The news and analysis powering European private equity. Apollo (APO)-Athene (ATH) Merger to Create $29 Billion Firm - Yahoo Finance