![]() To learn more, please visit About AtheneĪthene, through its subsidiaries, is a leading retirement services company with total assets of $224.4 billion as of Septemand operations in the United States, Bermuda, and Canada. As of September 30, 2021, Apollo had approximately $481 billion of assets under management. Our patient, creative, 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. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. We seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid and equity. Sidley Austin LLP is serving as legal counsel to Apollo.Īpollo is a high-growth, global alternative asset manager. Lazard and Goldman Sachs are serving as financial advisors and Weil Gotshal & Manges LLP as legal counsel to Blackstone and Aqua Finance. The transaction is subject to the satisfaction of customary closing conditions, including certain regulatory approvals, and is expected to close in the first half of 2022. Apollo’s portfolio of proprietary origination platforms help the firm to originate high-quality, recurring assets for its investors, including Athene. The addition of Aqua Finance will increase Apollo’s current $80 billion annual run-rate of asset origination across its platforms, which span commercial and consumer lending. Through this transaction, the new investor group expects to invest in new technology and innovation to further enhance the merchant customer experience and drive expansion of the network with new and existing partners. We look forward to continuing to support the business and its next phase of growth.”Īqua Finance has a long history of partnering with merchants across the home improvement and recreational ecosystem to provide dependable and flexible financing solutions to their customers. Melvin Ike, a Principal at Blackstone, said, “We are pleased to have backed Aqua, Rich, and his management team as they built a strong financial technology platform serving customers across the country. Menes Chee, a Senior Managing Director at Blackstone, and C. “For Apollo and Athene, Aqua is highly complementary to our portfolio of diversified origination platforms, extending our access to quality consumer loan flow.” “For more than three decades, Aqua has partnered with merchants to provide flexible consumer lending solutions, and with Athene we look forward to investing in the business and supporting the Aqua team to build on this success,” said Apollo Co-President Jim Zelter. I am proud of the significant progress we have made in establishing Aqua as an industry leader together with Blackstone and look forward to building on that strong foundation in the years ahead,” said Rich Morrin, Aqua’s Chief Executive Officer. “We are excited to partner with this new investor group as we enter the next stage of expansion for Aqua. “Aqua Finance is an exciting opportunity for Athene to invest in a leading consumer finance platform, to provide capital and expertise to continue to grow the business, and to execute on our strategy with Apollo to invest in high-quality origination platforms,” said Jim Belardi, Chief Executive Officer of Athene. ![]()
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