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Fly News Breaks for February 19, 2020
APO, ATH
Feb 19, 2020 | 07:18 EDT
SunTrust analyst Mark Hughes raised his price target on Athene Holding (ATH) to $61 and kept his Buy rating after its Q4 earnings beat, while also boosting his FY20 EPS view by 10c to $7.55 to reflect his outlook for moderate asset growth, healthy investment spreads, and share repurchases. The analyst remains positive on the company's high quality investment portfolio given its relationship with Apollo Global Managemement (APO) and its potential opportunities such as Funding Agreement Backed Notes or M&A.
News For ATH;APO From the Last 2 Days
APO
Oct 21, 2020 | 15:11 EDT
One of the biggest U.S. public pension funds has frozen new investments with Apollo Global Management, as growing concerns about founder Leon Black's relationship with the late pedophile Jeffrey Epstein take a toll on the $414B private equity group, Financial Times's Kaye Wiggins, Mark Vandevelde, and Billy Nauman report. The Pennsylvania Public School Employees' Retirement System said it had a discussion with Apollo last week following reports that Epstein had received at least $50M in payments from Black since 2008, when Epstein was convicted for soliciting sex from a minor. "After that phone conversation, PSERS' Investment team informed Apollo that it will not consider any new investments at this time," PSERS told the Financial Times. Reference Link
APO
Oct 21, 2020 | 06:00 EDT
Leon Black, the CEO and chairman of Apollo Global Management, has asked independent board members to examine his relationship with convicted sex offender Jeffrey Epstein, The New York Times' Matthew Goldstein reports. A spokeswoman for Apollo says Black requested the review by members of the firm's conflicts committee during a regularly scheduled board meeting. The Times reported recently that Black had wired at least $50M in fees and donations to entities affiliated with Epstein in the U.S. Virgin Islands from 2012 to 2017. Reference Link